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May 16, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Bar Harbor, Business Loans > First Bar Harbor Business Loans > General Automotive Repair Shops Loan | ||||
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Bar Harbor, Maine SBA 7A Banks
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Bar Harbor, Maine Lender Lends Money to General Automotive Repair Shops CompanyWant to talk with a Bar Harbor, Maine bank about a small business loan? Here's one Maine business loan, issued by a Bar Harbor bank, that was approved by the SBA. Applying for an SBA loan with First worked out well for our friends at one local firm in Winter Harbor, Maine. They got an SBA loan for $30,000. Way to go! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender FIRST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 11/26/2001 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Small Business Banks in Bar Harbor, Maine
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