Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Brewer, Maine Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Brewer, Maine are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Brewer, Maine, we've assembled a list of local small business banks that you should contact.

Local Brewer Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Brewer.

Small Business Bank Recent SBA Loans
Bangor Savings Bank - Branch OFCS  
Fleet Bank  
Innovative Home Mortgage LLC.  
Keybank - Keycenters- Brewer  
Maine Savings Federal Credit Union  
Merrill Bank - Brewer  
Merrill Bank - Orrington  

Business Loan Providers for Brewer Businesses

This is a list of banks outside of Brewer, Maine that have provided SBA loans to Brewer businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Bangor Savings Bank
Bangor, ME
4
Bank Of America
Providence, RI
1
Bar Harbor Bank & Trust
Bar Harbor, ME
1
Capital One
Mclean, VA
1
Merrill Merchants Bank
Bangor, ME
1
Northeast Bank
Lewiston, ME
1
Td Banknorth
Portland, ME
1

Brewer Bank Loan Tips

As a prerequisite to meeting with banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to read up on on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Getting a Small Business Loan.

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