Get an SBA Loan for Newsprint Mills

With these small business loans for newsprint mills, the SBA guarantees the lender that the loan will be repaid. This newsprint mills loan for $670,000 was given to a Maine entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scarborough, Maine was able to borrow $670,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $502,500 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: PAPER MILLS
SCARBOROUGH, ME 04074

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2621 - Paper Mills

NAICS Code

322122 - Newsprint Mills

Loan Approval Date

12/31/2001

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

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 22 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

Don't forget. To get an SBA loan, you must 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

SBIR Funding

Banks in Portland, Maine

Maine SBA 7A Lenders