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May 10, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Norway, Business Loans > Norway Savings Bank Norway Business Loans > Auto And Home Supply Stores Loan | ||||
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Banks in Norway, Maine That Make SBA Loans
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Norway, Maine Bank Lends Money to Auto And Home Supply Stores Company in Bridgton, MaineThinking about meeting with a Norway, Maine bank about a business loan? Here's one Maine business loan, issued by a Norway bank, that was approved by the SBA. Applying for an SBA loan with Norway Savings Bank worked out well for our friends at one local firm in Bridgton, Maine. The business was able to get an SBA loan for $366,400. Nice! SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender NORWAY SAVINGS BANK This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 10/15/2003 Loan Approval Gross Amount $366,400 Loan Approval from the SBA Of the total $366,400 loan amount, the SBA guaranteed $274,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees 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. While you may be able to find other ways to get money to start a business, 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: Best Norway, Maine Banks for Small Business SBA Participating Banks in Maine
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