Civic IQ
FINANCIAL_SERVICESONGOING

Nonprofit continues long-term loan with Gorham Savings Bank

Boys and Girls Clubs of Southern Maine maintains a long-term financing agreement with Gorham Savings Bank, with $423,862 in principal outstanding at 3.00% interest and monthly payments of $5,806 through March 2031. The loan is secured by facilities at 277 Cumberland Avenue in Portland.

Document date · January 7, 2026

Issuing agencyCity of South PortlandVendorGorham Savings Bank

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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$423,862 outstanding principal; monthly installments of $5,806 including interest at 3.00%
Contract type
FINANCIAL_SERVICES
Contract term
Through March 2031
Renewal date
2031-03-31
Renewal
Loan amortizes through March 2031; no renewal terms are described beyond scheduled maturities.
Document type
Proposal
Source document
Boys and Girls Clubs of Southern Maine Proposal South Portland Club After-School Transportation 2026-01-07

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of South Portland?

Gorham Savings Bank was awarded this financial services contract by City of South Portland, as recorded on January 7, 2026. The contract value is $423,862 outstanding principal; monthly installments of $5,806 including interest at 3.00%.

How much is the Gorham Savings Bank contract with City of South Portland worth?

The Gorham Savings Bank contract with City of South Portland is valued at $423,862 outstanding principal; monthly installments of $5,806 including interest at 3.00%, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a proposal record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Boys and Girls Clubs of Southern Maine Proposal South Portland Club After-School Transportation 2026-01-07 (Proposal), dated January 7, 2026 from City of South Portland. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Gorham Savings Bank hold?

Gorham Savings Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Gorham Savings Bank's profile

What is City of South Portland currently buying?

Explore City of South Portland's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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