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May 16, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Belfast, Business Loans > Damariscotta Bank & Trust Belfast Business Loans > Home And Garden Equipment Repair And Maintenance Loan | ||||
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Who Lends Money to Belmont Businesses
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Maine SBA Loan Issued to Home And Garden Equipment Repair And Maintenance CompanyMaineBusiness loans are available to Maine business owners through the SBA. In this case, a Maine bank provides the loan. This company, based in Belmont, Maine, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Damariscotta Bank & Trust. We've got the inside scoop on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE SBA Loan Lender DAMARISCOTTA BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811411 - Home and Garden Equipment Repair and Maintenance Loan Approval Date 8/14/2007 Loan Approval Gross Amount $213,750 Loan Approval from the SBA Of the total $213,750 loan amount, the SBA guaranteed $160,312. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Family and Friend Investors - Your First Financiers Good Banks for Small Business in Belfast, Maine Browse All Business Loan Sources for Maine
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