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May 17, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Portsmouth, Business Loans > Ocean Bank Portsmouth Business Loans > Limited-Service Restaurants Loan | ||||
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Business Loans for Kennebunk Small Businesses
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Getting an SBA Loan for Limited-Service RestaurantsLooking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $33,300 limited-service restaurants loan was issued by a New Hampshire bank. This business knew how to go about getting a business bank loan. Based in Kennebunk, Maine, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Ocean Bank, based in Portsmouth, New Hampshire. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender OCEAN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/13/2005 Loan Approval Gross Amount $33,300 Loan Approval from the SBA Of the total $33,300 loan amount, the SBA guaranteed $28,305. 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 2 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Role of Business Plan When Raising Money Find an SBA Lender in Portsmouth, New Hampshire
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