Where to Get Capital for Food Supplement Stores

Looking for SBA loans for food supplement stores? Talk to a banker who works with the SBA. This $150,000 food supplement stores loan was issued by a Maine bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rangeley, Maine was able to borrow $150,000 from Franklin Savings Bank. The SBA made the loan possible by guaranteeing $127,500 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
RANGELEY, ME 04970

SBA Loan Lender

FRANKLIN SAVINGS BANK
197 MAIN ST
FARMINGTON, ME 04938

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Franklin Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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