Bangor, Maine Bank Gives SBA Loan to Construction And Mining Machinery Company

A Bangor, Maine SBA loan can be yours. Learn how a business got a $92,242 business loan from this Maine bank.

This loan to an entrepreneur is a good example of an SBA loan. Camden National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Maine entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY
CARMEL, ME 04419

SBA Loan Lender

CAMDEN NATIONAL BANK
145 EXCHANGE ST
BANGOR, ME 04401

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5082 - Construction and Mining Machinery

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$92,242

Loan Approval from the SBA

Of the total $92,242 loan amount, the SBA guaranteed $78,405.

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 8 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Determining Proper Capital Structure for a Business

Best Bangor, Maine Banks for Small Business

SBA Maine Banks