Business Loan from Norway Savings Bank Given to Lumber, Plywood, Millwork, And Wood Panel Merchant Wholesalers Company

An SBA loan from Norway Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Portland, Maine business owner got a $18,900 loan.

This business received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Norway Savings Bank, out of Norway, Maine. The loan was granted and they received $18,900 to help grow their Portland, Maine business.

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS
PORTLAND, ME 04102

SBA Loan Lender

NORWAY SAVINGS BANK
261 MAIN ST
NORWAY, ME 04268

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Loan Approval Date

1/16/2008

Loan Approval Gross Amount

$18,900

Loan Approval from the SBA

Of the total $18,900 loan amount, the SBA guaranteed $9,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Norway Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Investor Turnoffs

Where to Get an SBA Loan in Norway, Maine

Maine SBA Bank Lenders