Biddeford, Maine Bank Lends Money to Eating Places Company in Portland, Maine

Find Biddeford, Maine banks that specialize in SBA loans and know how to work with entrepreneurs. Pepperell Bank & Trust is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Portland, Maine starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Pepperell Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PORTLAND, ME 04101

SBA Loan Lender

PEPPERELL BANK & TRUST
163 MAIN ST
BIDDEFORD, ME 04005

This SBA bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/15/2002

Loan Approval Gross Amount

$296,000

Loan Approval from the SBA

Of the total $296,000 loan amount, the SBA guaranteed $222,000.

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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $296,000 loan. Remember, anyone can do it... so why not you?

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in Biddeford, Maine

Maine SBA 7A Lenders