Chemical Product and Preparation Manufacturing SBA Loans

With these SBA loans for chemical product and preparation manufacturing, the SBA guarantees the lender that the loan will be repaid. This chemical product and preparation manufacturing loan for $150,000 was given to a Maine entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Norway Savings Bank, out of Windham, Maine. The loan was granted and they received $150,000 to help grow their Westbrook, Maine business.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
WESTBROOK, ME 04092

SBA Loan Lender

NORWAY SAVINGS BANK
10 FRANKLIN DR
WINDHAM, ME 04062

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

7389 - Business Services

NAICS Code

325998 - Chemical Product and Preparation Manufacturing

Loan Approval Date

11/22/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 7 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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

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