How to Get a Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Try the SBA. This $250,000 full-service restaurants loan was issued by a Maine bank.

This small business knew how to go about getting a business bank loan. Based in York, Maine, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Kennebunk Savings Bank, based in Kennebunk, Maine.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
YORK, ME 03801

SBA Loan Lender

KENNEBUNK SAVINGS BANK
104 MAIN ST
KENNEBUNK, ME 04043

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

6/21/2002

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Kennebunk Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Kennebunk Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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