Borrowing Money for Services to Buildings and Dwellings
With these bank loans for services to buildings and dwellings, the SBA guarantees the lender that the loan will be repaid. This services to buildings and dwellings loan for $15,000 was given to a Maine entrepreneur in 2007.
This small firm knew how to go about getting a business bank loan. Based in Fryeburg, Maine, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Northway Bank, based in Berlin, New Hampshire.
SBA Loan Borrower
COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS
FRYEBURG, ME 04037
SBA Loan Lender
NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570
The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
561790 - Services to Buildings and Dwellings
Loan Approval Date
5/18/2007
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $7,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
If you need money to start business in Fryeburg ME, you ought to talk with a local Fryeburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fryeburg businesses.
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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