Portland, Maine Bank Gives SBA Loan to Scenic And Sightseeing Transportation, Water Company

Find Portland, Maine banks that specialize in business loans and know how to work with entrepreneurs. Norway Savings Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Portland, Maine starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Norway Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SCENIC AND SIGHTSEEING TRANSPORTATION, WATER
PORTLAND, ME 04101

SBA Loan Lender

NORWAY SAVINGS BANK
1200 CONGRESS ST
PORTLAND, ME 04102

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

487210 - Scenic and Sightseeing Transportation, Water

Loan Approval Date

1/21/2005

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

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