Fort Fairfield, Maine Bank Lends Money to Chocolate And Cocoa Products Company in Fort Fairfield, Maine

Want to talk with a Fort Fairfield, Maine bank about a small business loan? Here's one Maine business loan, issued by a Fort Fairfield bank, that was approved by the SBA.

Applying for an SBA loan with Katahdin Trust Co. worked out well for our friends at one local business in Fort Fairfield, Maine. The business was able to get an SBA loan for $12,250. Way to go!

SBA Loan Borrower

COMPANY TYPE: CHOCOLATE AND COCOA PRODUCTS
FORT FAIRFIELD, ME 04742

SBA Loan Lender

KATAHDIN TRUST CO.
206 MAIN ST
FORT FAIRFIELD, ME 04742

This lender issued this particular loan for a small business 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

2066 - Chocolate and Cocoa Products

NAICS Code

311320 - Chocolate and Confectionery Manufacturing from Cacao Beans

Loan Approval Date

9/26/2003

Loan Approval Gross Amount

$12,250

Loan Approval from the SBA

Of the total $12,250 loan amount, the SBA guaranteed $10,412.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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.

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