Raising Money for Limited-Service Restaurants

With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $175,000 was given to a Maine entrepreneur in 2007.

This company 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 $175,000 to help grow their Portland, Maine business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
PORTLAND, ME 04101

SBA Loan Lender

KATAHDIN TRUST CO.
MAIN ST
PATTEN, ME 04765

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

722211 - Limited-Service Restaurants

Loan Approval Date

9/13/2007

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $87,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 100 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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

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 Katahdin Trust Co. 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.

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