Seafood Canning Commercial Loans

With these commercial loans for seafood canning, the SBA guarantees the lender that the loan will be repaid. This seafood canning loan for $250,000 was given to a Maine entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in Whiting, Maine, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Union Trust Company, based in Ellsworth, Maine.

SBA Loan Borrower

COMPANY TYPE: CANNED AND CURED FISH AND SEAFOODS
WHITING, ME 04691

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2091 - Canned and Cured Fish and Seafoods

NAICS Code

311711 - Seafood Canning

Loan Approval Date

3/11/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Ellsworth, Maine

SBA Maine Banks