Business Loan from Bar Harbor Bank & Trust Given to Ice Cream And Frozen Dessert Manufacturing Company
Bar Harbor Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maine entrepreneur who tapped into the power of SBA loans.
This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bar Harbor Bank & Trust, out of Bar Harbor, Maine. The loan was granted and they received $40,000 to help grow their Bar Harbor (census Name For Ba, Maine business.
SBA Loan Borrower
COMPANY TYPE: ICE CREAM AND FROZEN DESSERT MANUFACTURING
BAR HARBOR (CENSUS NAME FOR BA, ME 04609
SBA Loan Lender
BAR HARBOR BANK & TRUST
82 MAIN ST
BAR HARBOR, ME 04609
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
311520 - Ice Cream and Frozen Dessert Manufacturing
Loan Approval Date
1/11/2006
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $20,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bar Harbor Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Equity Financing
Best Bar Harbor, Maine Banks for Small Business
SBA Participating Banks in Maine