The Bank of Maine becomes an SBAExpress Lender
PORTLAND — The Bank of Maine, a community bank focused on the needs of small businesses in Maine, announced today that it has become an approved lender under the U.S. Small Business Administration SBAExpress loan program.
The SBAExpress loan program is designed for small business owners interested in borrowing up to $1,000,000 until Sept. 26, and $350,000 thereafter.
“The SBAExpress loan program will help our customers by reducing the complexity of the application process and providing quick approvals,” said John W. Everets, chief executive officer and chairman of The Bank of Maine. “We are proud that the bank meets the criteria for participation in the SBAExpress program.”
Everets noted that “The normal SBA loan process can take between seven and 10 business days. Under the SBAExpress program, approval of a loan can be obtained in a few hours.”
“We are committed to helping small businesses across Maine succeed,” continued Everets. “Backed by the bank’s strong capital position, its $600 million lending capacity, and its team of experienced lenders, we can provide our customers with the financing options that they need to grow and prosper.”
