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April 29, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Warwick, Business Loans > Home Loan Invest Bank F.S.B. Warwick Business Loans > General Automotive Repair Loan | ||||
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North Berwick, Maine Bank for SBA Loans
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Local Business Gets a Maine Bank LoanMaineBusiness loans are available to Maine business owners through the SBA. In this case, a Rhode Island bank provides the loan. You can learn something about getting a small business loan in North Berwick, Maine by studying this loan to a local business, made back in 2007. Banks like Home Loan Invest Bank F.S.B. may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender HOME LOAN INVEST BANK F.S.B. This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 6/15/2007 Loan Approval Gross Amount $183,000 Loan Approval from the SBA Of the total $183,000 loan amount, the SBA guaranteed $137,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan 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 Home Loan Invest Bank F.S.B. 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: Small Business Banks in Warwick, Rhode Island
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