Get an SBA Loan for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $75,000 was given to a Maine entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Savings Bank Of Maine, out of Gardiner, Maine. The loan was granted and they received $75,000 to help grow their Boothbay Harbor, Maine business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BOOTHBAY HARBOR, ME 04538

SBA Loan Lender

SAVINGS BANK OF MAINE
190 WATER ST
GARDINER, ME 04345

This debt financing 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

9/12/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Savings Bank Of Maine had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Savings Bank Of Maine made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

SBA Approved Banks in Gardiner, Maine

SBA Participating Banks in Maine