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May 11, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Plastics Product Manufacturing Loan | ||||
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Small Business Banks for Business Owners in Maine
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Growing Company Gets a Maine Bank LoanBank loans in Maine are are few and far betweeen these days. We take a look at one Maine bank loan, provided by a New York bank, that was approved by the SBA. This company, based in Raymond, Maine, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Loan Center, LLC. We've got the inside scoop on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING SBA Loan Lender BUSINESS LOAN CENTER, LLC This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 326199 - Plastics Product Manufacturing Loan Approval Date 7/19/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 40 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 40 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding From a Venture Capitalist SBA 7A Banks for New York, New York Loans
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