Get an SBA Loan for Full-Service Restaurants
Looking for small business loans for full-service restaurants? Try the SBA. This $534,000 full-service restaurants loan was issued by a Maine bank.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Td Banknorth, out of Portland, Maine. The loan was granted and they received $534,000 to help grow their South Portland, Maine business.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
SOUTH PORTLAND, ME 04106
SBA Loan Lender
TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
12/11/2001
Loan Approval Gross Amount
$534,000
Loan Approval from the SBA
Of the total $534,000 loan amount, the SBA guaranteed $400,500.
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 71 employees. The loan application indicated that the loan would help retain 71 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We can help you find the best banks for small businesses in South Portland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
Alternative Financing
Banks in Portland, Maine
Getting an SBA Loan in Maine