Pepperell Bank & Trust SBA Loan to No Industry Type Specified Company
Pepperell Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maine entrepreneur who tapped into the power of SBA loans.
This small firm knew how to go about getting a business bank loan. Based in Biddeford, Maine, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Pepperell Bank & Trust, based in Biddeford, Maine.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BIDDEFORD, ME 04005
SBA Loan Lender
PEPPERELL BANK & TRUST
163 MAIN ST
BIDDEFORD, ME 04005
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
518111 -
Loan Approval Date
8/28/2007
Loan Approval Gross Amount
$550,000
Loan Approval from the SBA
Of the total $550,000 loan amount, the SBA guaranteed $412,500.
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 60 employees. This SBA loan request indicated that the loan would help retain 60 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Business Credit Evaluation
Best Biddeford, Maine Banks for Small Business
SBA Participating Banks in Maine