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April 29, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Lewiston, Business Loans > Northeast Bank Lewiston Business Loans > Beauty Salons Loan | ||||
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Raising Money in Portland, Maine With SBA Loans
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Beauty Salons Small Business LoansLooking for small business loans for beauty salons? Talk to a banker who works with the SBA. This $49,000 beauty salons loan was issued by a Maine bank. Getting a small business loan in Portland, Maine was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Northeast Bank, operating out of Lewiston, Maine. Here are the details on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender NORTHEAST BANK This lender issued this particular business 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. NAICS Code 812112 - Beauty Salons Loan Approval Date 9/19/2003 Loan Approval Gross Amount $49,000 Loan Approval from the SBA Of the total $49,000 loan amount, the SBA guaranteed $41,650. 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 loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $49,000 loan. Remember, feel the fear, and do it anyway. 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: Role of Business Plan When Raising Money Find an SBA Lender in Lewiston, Maine
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