Lewiston, Maine Bank Gives SBA Loan to Full-Service Restaurants Company

Thinking about meeting with a Lewiston, Maine bank about a small business loan? Here's one Maine business loan, issued by a Lewiston bank, that was approved by the SBA.

Applying for an SBA loan with Northeast Bank worked out well for our friends at one local company in West Baldwin, Maine. They received an SBA loan for $20,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WEST BALDWIN, ME 04055

SBA Loan Lender

NORTHEAST BANK
500 CANAL ST
LEWISTON, ME 04240

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722110 - Full-Service Restaurants

Loan Approval Date

2/8/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in West Baldwin ME, you ought to talk with a local West Baldwin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West Baldwin businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Strategic Investors

Small Business Banks in Lewiston, Maine

SBA Participating Banks in Maine