Ellsworth, Maine Business Gets SBA-Guaranteed Funding from Union Trust Company

An SBA loan from Union Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ellsworth, Maine business owner got a $573,800 loan.

This growing company knew how to go about getting a business bank loan. Based in Ellsworth, Maine, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Union Trust Company, based in Ellsworth, Maine.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ELLSWORTH, ME 04605

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

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

2/6/2001

Loan Approval Gross Amount

$573,800

Loan Approval from the SBA

Of the total $573,800 loan amount, the SBA guaranteed $286,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Direct Public Offerings

Who Lends Money to Small Businesses in Ellsworth, Maine

Maine SBA Bank Lenders