Business Loan from Franklin Savings Bank Given to Gasoline Stations With Convenience Stores Company

An SBA loan from Franklin Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Strong, Maine business owner got a $295,600 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Strong, Maine was able to borrow $295,600 from Franklin Savings Bank. The SBA made the loan possible by guaranteeing $147,800 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
STRONG, ME 04983

SBA Loan Lender

FRANKLIN SAVINGS BANK
197 MAIN ST
FARMINGTON, ME 04938

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$295,600

Loan Approval from the SBA

Of the total $295,600 loan amount, the SBA guaranteed $147,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The loan application indicated that the loan would help retain 25 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Investor Turnoffs

Small Business Banks in Farmington, Maine

SBA Participating Banks in Maine