Topsham, Maine Business Gets SBA-Guaranteed Funding from Bath Savings Institution

Bath Savings Institution and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Topsham, Maine was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bath Savings Institution, operating out of Bath, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TOPSHAM, ME 04086

SBA Loan Lender

BATH SAVINGS INSTITUTION
105 FRONT ST
BATH, ME 04530

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722211 - Limited-Service Restaurants

Loan Approval Date

9/8/2005

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you are raising money in Topsham ME, you ought to talk with a local Topsham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Topsham businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bath Savings Institution 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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Bath, Maine

Where to Get an SBA Loan Maine