Financing for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $112,000 was given to a Maine entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portland, Maine was able to borrow $112,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $84,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PORTLAND, ME 04101

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/16/2002

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $84,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Td Banknorth and they will explain how you can get an SBA loan for your company.

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:

Investor Turnoffs

SBA 7A Banks in Portland, Maine

Getting a Business Loan in Maine