Freeport, Maine Business Gets SBA-Guaranteed Funding from Bath Savings Institution

An SBA loan from Bath Savings Institution typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Freeport, Maine business owner got a $150,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bath Savings Institution, out of Bath, Maine. The loan was granted and they received $150,000 to help grow their Freeport, Maine business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FREEPORT, ME 04032

SBA Loan Lender

BATH SAVINGS INSTITUTION
105 FRONT ST
BATH, ME 04530

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722110 - Full-Service Restaurants

Loan Approval Date

5/9/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 loan application indicated that the loan would help generate 10 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bath Savings Institution that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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