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May 16, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Kennebunk, Business Loans > Rivergreen Bank Kennebunk Business Loans > Painting And Paper Hanging Loan | ||||
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Small Business Banks for Small Business Owners in Maine
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Kennebunk, Maine Entrepreneur Gets a Small Business LoanWant a Maine small business loan? This Maine entrepreneur got a small business loan, provided by a Maine bank that works with the SBA to help small business owners. This business, based in Kennebunk, 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 Rivergreen Bank. We've got the inside scoop on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND PAPER HANGING SBA Loan Lender RIVERGREEN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1721 - Painting and Paper Hanging NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 7/31/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Kennebunk, Maine Loans Browse All Business Loan Sources for Maine
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