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May 13, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Madawaska, Business Loans > Norstate Fcu Madawaska Business Loans > Logging Loan | ||||
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Norstate Fcu Fort Kent (census Name For For, Maine
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SBA Loan from Norstate Fcu Helps Logging CompanyNorstate Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Fort Kent (census Name For For, Maine, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Norstate Fcu, based in Madawaska, Maine. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender NORSTATE FCU This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 113310 - Logging Loan Approval Date 6/15/2007 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $70,000. 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 SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Who Lends Money to Small Businesses in Madawaska, Maine
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