Growing Company Gets a Maine Small Business Loan

Want a Maine bank loan? This Maine entrepreneur got a bank loan, provided by a Maine bank that works with the SBA to help small business owners.

Getting a small business loan in Rumford (census Name For Rumfo, Maine was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Franklin Savings Bank. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: LOGGING
RUMFORD (CENSUS NAME FOR RUMFO, ME 04276

SBA Loan Lender

FRANKLIN SAVINGS BANK
197 MAIN ST
FARMINGTON, ME 04938

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

8/24/2005

Loan Approval Gross Amount

$296,900

Loan Approval from the SBA

Of the total $296,900 loan amount, the SBA guaranteed $148,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Franklin Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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