Maine Bank Loan Issued to Sporting Goods Stores Company

Bank loans in Maine are tough to come by these days. We take a look at one Maine bank loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in Portland, Maine was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
PORTLAND, ME 04101

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

451110 - Sporting Goods Stores

Loan Approval Date

5/2/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 26 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Portland ME, you ought to talk with a local Portland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portland businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Small Business Loan

Best Providence, Rhode Island Banks for Small Business

Find an SBA Lender in Rhode Island