Business Loan from Bar Harbor Bank & Trust Given to Hotels And Motels Company

An SBA loan from Bar Harbor Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Southwest Harbor, Maine business owner got a $290,000 loan.

Getting a small business loan in Southwest Harbor, Maine was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bar Harbor Bank & Trust, operating out of Bar Harbor, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SOUTHWEST HARBOR, ME 04679

SBA Loan Lender

BAR HARBOR BANK & TRUST
82 MAIN ST
BAR HARBOR, ME 04609

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

3/22/2004

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Southwest Harbor 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:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Bar Harbor, Maine

SBA Lenders in Maine