Local Business Gets a Maine Business Loan

MaineBusiness loans are available to Maine business owners through the SBA. In this case, a Maine bank provides the loan.

Getting a small business loan in Washington, Maine was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Union Trust Company. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
WASHINGTON, ME 04574

SBA Loan Lender

UNION TRUST COMPANY
1768 ATLANTIC HWY
WALDOBORO, ME 04572

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

10/6/2000

Loan Approval Gross Amount

$12,200

Loan Approval from the SBA

Of the total $12,200 loan amount, the SBA guaranteed $9,760.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Union Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Union Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Debt Financing

SBA Approved Banks in Waldoboro, Maine

Maine SBA Banks