Maine Small Business Loan Issued to Eating Places Company

Searching for a Maine business loan? This Maine entrepreneur got a business loan, provided by a Maine bank that works with the SBA to help small business owners.

This small business, based in Bangor, Maine, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Camden National Bank. We've got the inside scoop on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BANGOR, ME 04401

SBA Loan Lender

CAMDEN NATIONAL BANK
145 EXCHANGE ST
BANGOR, ME 04401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722320 - Caterers

Loan Approval Date

9/25/2002

Loan Approval Gross Amount

$1,850,000

Loan Approval from the SBA

Of the total $1,850,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Financing Your Business

Small Business Banks in Bangor, Maine

SBA Lenders in Maine