SBA Loan from Kennebunk Savings Bank Helps Computer Programming Services Company

An SBA loan from Kennebunk Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sanford, Maine business owner got a $40,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sanford, Maine was able to borrow $40,000 from Kennebunk Savings Bank. The SBA made the loan possible by guaranteeing $34,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER PROGRAMMING SERVICES
SANFORD, ME 04073

SBA Loan Lender

KENNEBUNK SAVINGS BANK
104 MAIN ST
KENNEBUNK, ME 04043

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7371 - Computer Programming Services

NAICS Code

541511 - Custom Computer Programming Services

Loan Approval Date

2/7/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Kennebunk Savings Bank 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.

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