Bangor Savings Bank Gives SBA Loan to Child Day Care Services Company

Small business loans in Maine are are few and far betweeen these days. We take a look at one Maine small business loan, provided by a Maine bank, that was approved by the SBA.

You can learn something about getting a small business loan in South Thomaston, Maine by studying this loan to a local company, made back in 2008. Banks like Bangor Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
SOUTH THOMASTON, ME 04858

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

1/8/2008

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $146,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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

Related Links:

Getting a Small Business Loan

Best Banks for Small Business in Bangor, Maine

Getting an SBA Loan in Maine