Mobile Food Services Bank Loans

With these bank loans for mobile food services, the SBA guarantees the lender that the loan will be repaid. This mobile food services loan for $35,000 was given to a Maine entrepreneur in 2007.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Biddeford Savings Bank, out of Biddeford, Maine. The loan was granted and they received $35,000 to help grow their Biddeford, Maine business.

SBA Loan Borrower

COMPANY TYPE: MOBILE FOOD SERVICES
BIDDEFORD, ME 04005

SBA Loan Lender

BIDDEFORD SAVINGS BANK
254 MAIN ST
BIDDEFORD, ME 04005

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

722330 - Mobile Food Services

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Biddeford ME, you ought to talk with a local Biddeford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Biddeford businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Find Start-Up Capital

Banks in Biddeford, Maine

Getting a Business Loan in Maine