Raising Money for Specialty Food Stores

With these bank loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $20,000 was given to a Maine entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Union Trust Company, out of Ellsworth, Maine. The loan was granted and they received $20,000 to help grow their Bar Harbor (census Name For Ba, Maine business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
BAR HARBOR (CENSUS NAME FOR BA, ME 04609

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

1/17/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $20,000 loan. Remember, anyone can do it... so why not you?

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.

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