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May 10, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Norway, Business Loans > Norway Savings Bank Norway Business Loans > Passenger Car Leasing Loan | ||||
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SBA 7A Banks in Maine
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Financing for Passenger Car LeasingLooking for loans for passenger car leasing? The SBA may be the answer. This $100,000 passenger car leasing loan was issued by a Maine bank. Getting a small business loan in Yarmouth (census Name For Yarm, Maine was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Norway Savings Bank, operating out of Norway, Maine. Here are the details on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: PASSENGER CAR LEASING SBA Loan Lender NORWAY SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 532112 - Passenger Car Leasing Loan Approval Date 11/2/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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