Get an SBA Loan for Store Retailers

With these small business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $80,000 was given to a Maine entrepreneur in 2003.

This company knew how to go about getting a business bank loan. Based in Gardiner, Maine, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Savings Bank Of Maine, based in Gardiner, Maine.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
GARDINER, ME 04345

SBA Loan Lender

SAVINGS BANK OF MAINE
190 WATER ST
GARDINER, ME 04345

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

4/24/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Gardiner ME, you ought to talk with a local Gardiner SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gardiner businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Savings Bank Of Maine that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Credit Evaluation

Best Banks for Small Business in Gardiner, Maine

SBA Lenders in Maine