Business Loan from Katahdin Trust Co. Given to Limited-Service Restaurants Company

An SBA loan from Katahdin Trust Co. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Medway, Maine business owner got a $329,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Katahdin Trust Co., out of Patten, Maine. The loan was granted and they received $329,000 to help grow their Medway, Maine business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MEDWAY, ME 04460

SBA Loan Lender

KATAHDIN TRUST CO.
MAIN ST
PATTEN, ME 04765

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/25/2007

Loan Approval Gross Amount

$329,000

Loan Approval from the SBA

Of the total $329,000 loan amount, the SBA guaranteed $246,750.

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 12 employees. The SBA loan documents indicated that the funding would help create 12 new jobs.

Start the Process for Getting an SBA Loan Today!

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Katahdin Trust Co. 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.

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