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May 1, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Scarborough, Business Loans > Maine Bank & Trust Company Scarborough Business Loans > Fuel Oil Dealers Loan | ||||
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Scarborough, Maine Bank for SBA Loans
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Scarborough, Maine Lender Lends Money to Fuel Oil Dealers CompanyA Scarborough, Maine SBA loan can be yours. Learn how a business got a $140,000 business loan from this Maine bank. This loan to a local firm is a good example of an SBA loan. Maine Bank & Trust Company 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: FUEL OIL DEALERS SBA Loan Lender MAINE BANK & TRUST COMPANY This lender issued this particular bank 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 5983 - Fuel Oil Dealers NAICS Code 454311 - Heating Oil Dealers Loan Approval Date 10/4/2000 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $105,000. 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 3 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Maine Bank & Trust Company and they will explain how you can get an SBA loan for your company. 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 SBA Participating Banks in Scarborough, Maine
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