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

Fort Kent, Maine Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Fort Kent, Maine! If that's what's on your mind, you've come to the right place.

If you are hoping to get a small business loan and your business is based in Fort Kent, Maine, we've put together a list of local small business banks that you should contact.

Local Fort Kent Lending Resources

Without further adieu, here's our list of small business banks in Fort Kent.

Small Business Bank Recent SBA Loans
First Citizens Bank  

Business Loan Providers for Fort Kent Businesses

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

Small Business Bank Recent SBA Loans
Keybank National Association
Cleveland, OH
4
Norstate Fcu
Madawaska, ME
1
Td Banknorth
Portland, ME
3

Fort Kent Bank Loan Tips

As a prerequisite to reaching out to banks for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the financing is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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, the bank may ask you to to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to get up to speed 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

If you are new to our Gaebler.com site, you should know that we are all about supporting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

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