SBA Loan from Pepperell Bank & Trust Helps Video Tape Rental Company

An SBA loan from Pepperell Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Waterboro, Maine business owner got a $10,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Pepperell Bank & Trust, out of Biddeford, Maine. The loan was granted and they received $10,000 to help grow their Waterboro, Maine business.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
WATERBORO, ME 04087

SBA Loan Lender

PEPPERELL BANK & TRUST
163 MAIN ST
BIDDEFORD, ME 04005

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

2/18/2000

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,000.

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 3 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pepperell Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pepperell Bank & Trust 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:

Obtaining Funding From a Venture Capitalist

Small Business Banks in Biddeford, Maine

SBA Lenders in Maine