South Portland, Maine Business Gets SBA-Guaranteed Funding from Maine Bank & Trust Company

Maine Bank & Trust Company has a track record as a leading provider of SBA loans. Find out how this Maine entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Portland, Maine was able to borrow $6,900 from Maine Bank & Trust Company. The SBA made the loan possible by guaranteeing $5,520 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
SOUTH PORTLAND, ME 04106

SBA Loan Lender

MAINE BANK & TRUST COMPANY
15 HINCKLEY DR
SOUTH PORTLAND, ME 04106

This lender issued this particular SBA small business loan 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

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

8/7/2000

Loan Approval Gross Amount

$6,900

Loan Approval from the SBA

Of the total $6,900 loan amount, the SBA guaranteed $5,520.

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 3 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in South Portland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Getting a Small Business Loan

Banks in South Portland, Maine

Maine SBA 7A Lenders