Bank of Maine becomes SBA ‘express 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.”
    The Bank of Maine, founded in 1834, is an FDIC-insured, federally-chartered savings bank with more than $830 million in assets. The bank offers a broad range of personal and business financial services through its 33 branches and 43 ATM sites located from York to Fort Kent, including branches in Presque Isle, Caribou, Houlton and Mars Hill. In addition to serving the needs of its customers, the bank and its charitable foundation have returned over $25 million to Maine communities through contributions and grants. To learn more, visit www.thebankofmaine.com or join us on Facebook and Twitter.