Ellsworth, Maine Lender Lends Money to Limited-Service Restaurants Company

Thinking about meeting with an Ellsworth, Maine bank about an SBA loan? Here's one Maine business loan, issued by an Ellsworth bank, that was approved by the SBA.

Applying for an SBA loan with Union Trust Company worked out well for our friends at one local business in Ellsworth, Maine. The business was able to get an SBA loan for $40,000. Great job!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ELLSWORTH, ME 04605

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

2/20/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 9 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 9 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Ellsworth ME, you ought to talk with a local Ellsworth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ellsworth businesses.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Microlending as a Small Business Funding Source

SBA 7A Banks for Ellsworth, Maine Loans

Maine SBA 7A Banks