Fish and Seafood Markets Commercial Loans

With these commercial loans for fish and seafood markets, the SBA guarantees the lender that the loan will be repaid. This fish and seafood markets loan for $116,800 was given to a Maine entrepreneur in 2004.

Getting a small business loan in Avon, Maine was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Franklin Savings Bank, operating out of Farmington, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: MEAT AND FISH MARKET
AVON, ME 04938

SBA Loan Lender

FRANKLIN SAVINGS BANK
197 MAIN ST
FARMINGTON, ME 04938

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5421 - Meat and Fish Market

NAICS Code

445220 - Fish and Seafood Markets

Loan Approval Date

9/27/2004

Loan Approval Gross Amount

$116,800

Loan Approval from the SBA

Of the total $116,800 loan amount, the SBA guaranteed $99,280.

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 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Franklin Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Borrowing Money from Friends and Family

Find an SBA Lender in Farmington, Maine

SBA Maine Banks