Belfast, Maine Business Gets SBA-Guaranteed Funding from Camden National Bank

An SBA loan from Camden National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Belfast, Maine business owner got a $200,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Belfast, Maine was able to borrow $200,000 from Camden National Bank. The SBA made the loan possible by guaranteeing $100,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BELFAST, ME 04915

SBA Loan Lender

CAMDEN NATIONAL BANK
2 ELM ST
CAMDEN, ME 04843

This lender processed this 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

722211 - Limited-Service Restaurants

Loan Approval Date

1/6/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

While you may be able to find business people willing to loan money, 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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