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May 16, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Bar Harbor, Business Loans > Bar Harbor Bank & Trust Bar Harbor Business Loans > Hotels And Motels Loan | ||||
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SBA Lenders Maine
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Bar Harbor, Maine Bank Lends Money to Hotels And Motels Company in Bar Harbor, MaineThinking about meeting with a Bar Harbor, Maine bank about a small business loan? Here's one Maine business loan, issued by a Bar Harbor bank, that was approved by the SBA. Applying for an SBA loan with Bar Harbor Bank & Trust worked out well for our friends at one local business in Bar Harbor, Maine. The business was able to get an SBA loan for $50,000. Awesome! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BAR HARBOR BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. 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 1/29/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 8 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Realistic Debt Financing Options Good Banks for Small Business in Bar Harbor, Maine
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