Mobile Food Services Commercial Loans

With these commercial loans for mobile food services, the SBA guarantees the lender that the loan will be repaid. This mobile food services loan for $20,000 was given to a Maine entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Houlton (census Name For Hoult, Maine, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Bangor Savings Bank, based in Bangor, Maine.

SBA Loan Borrower

COMPANY TYPE: MOBILE FOOD SERVICES
HOULTON (CENSUS NAME FOR HOULT, ME 04730

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

3/29/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bangor Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

Good Banks for Small Business in Bangor, Maine

Maine SBA 7A Banks