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May 16, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Gardiner, Business Loans > Savings Bank Of Maine Gardiner Business Loans > Convenience Stores Loan | ||||
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Savings Bank Of Maine
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Business Loan from Savings Bank Of Maine Given to Convenience Stores CompanySavings Bank Of Maine and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sabattus, Maine was able to borrow $524,500 from Savings Bank Of Maine. The SBA made the loan possible by guaranteeing $393,375 of this Maine small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender SAVINGS BANK OF MAINE This lender issued this 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. NAICS Code 445120 - Convenience Stores Loan Approval Date 1/30/2007 Loan Approval Gross Amount $524,500 Loan Approval from the SBA Of the total $524,500 loan amount, the SBA guaranteed $393,375. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the SBA funding recipient 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? Many small businesses receive loans backed by the U.S. Small Business Administration. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $524,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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