Rivergreen Bank SBA Loan to Support Activities For Water Transportation Company
An SBA loan from Rivergreen 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 $20,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portland, Maine was able to borrow $20,000 from Rivergreen Bank. The SBA made the loan possible by guaranteeing $10,000 of this Maine small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPPORT ACTIVITIES FOR WATER TRANSPORTATION
PORTLAND, ME 04101
SBA Loan Lender
RIVERGREEN BANK
36 PORTLAND RD
KENNEBUNK, ME 04043
The lender provided this business 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
488390 - Support Activities for Water Transportation
Loan Approval Date
3/23/2006
Loan Approval Gross Amount
$20,000
Loan Approval from the SBA
Of the total $20,000 loan amount, the SBA guaranteed $10,000.
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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Rivergreen 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.
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