First SBA Loan to Trucking Company

Looking to get a Maine small business loan? Here's one Maine business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Southwest Harbor, Maine was able to borrow $175,000 from First. The SBA made the loan possible by guaranteeing $131,250 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
SOUTHWEST HARBOR, ME 04679

SBA Loan Lender

FIRST
MAINE COAST MALL
ELLSWORTH, ME 04605

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

Loan Approval Date

3/17/2000

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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