Where to Get Capital for Fish and Seafood Merchant Wholesalers

With these small business loans for fish and seafood merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This fish and seafood merchant wholesalers loan for $60,000 was given to a Maine entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kittery, Maine was able to borrow $60,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $51,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: FISH AND SEAFOODS
KITTERY, ME 03904

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5146 - Fish and Seafoods

NAICS Code

424460 - Fish and Seafood Merchant Wholesalers

Loan Approval Date

6/11/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Advice on Getting a Small Business Loan

Where to Get an SBA Loan in Portsmouth, New Hampshire

SBA Lenders in New Hampshire