Pierce Family Properties LLC
Pierce Family Properties LLC, located in Scarborough, Maine, is classified under the industry Furniture Retailers (NAICS 449110). The company financed real estate or equipment through an SBA 504 loan of $1,436,000, with Maine Community Bank as the lender and Granite State Economic Development Corporation as the certified development company, approved on October 22, 2024.
SBA 504 loan, approved Oct 22, 2024
$1,436,000 SBA portionCDC: Granite State Economic Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,436,000
- Bank portion
- $1,750,000
- Estimated project size
- $3,540,000 (estimated)
- Estimated owner equity
- $354,000 (estimated, about 10% of the project)
- Bank lender
- Maine Community Bank, Portland, ME
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- October 22, 2049 (estimated, approval date plus term)
- First disbursement
- Apr 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 449110, Furniture Retailers
- Project location
- Cumberland County, ME
- SBA district office
- Maine District Office
- Congressional district
- ME-1
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 21% of expansion loans in Furniture Retailers on this site.
- Average expansion loan in Furniture Retailers: $2,338,737.
- Average expansion loan in Maine: $2,027,182.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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