Financing for Mobile Food Services

Looking for commercial loans for mobile food services? Try the SBA. This $76,500 mobile food services loan was issued by a Maine bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Franklin Savings Bank, out of Farmington, Maine. The loan was granted and they received $76,500 to help grow their Rumford (census Name For Rumfo, Maine business.

SBA Loan Borrower

COMPANY TYPE: MOBILE FOOD SERVICES
RUMFORD (CENSUS NAME FOR RUMFO, ME 04276

SBA Loan Lender

FRANKLIN SAVINGS BANK
197 MAIN ST
FARMINGTON, ME 04938

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

9/2/2005

Loan Approval Gross Amount

$76,500

Loan Approval from the SBA

Of the total $76,500 loan amount, the SBA guaranteed $38,250.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Franklin Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Advice on Getting a Small Business Loan

SBA 7A Lenders in Farmington, Maine

SBA Participating Banks in Maine