Financing for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $425,000 full-service restaurants loan was issued by a Maine bank.

Getting a small business loan in Bar Harbor, Maine was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bar Harbor Bank & Trust, operating out of Bar Harbor, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BAR HARBOR, ME 04609

SBA Loan Lender

BAR HARBOR BANK & TRUST
82 MAIN ST
BAR HARBOR, ME 04609

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/14/2002

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 11 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, 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.

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