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May 13, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Biddeford, Business Loans > Pepperell Bank & Trust Biddeford Business Loans > Eating Places Loan | ||||
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Examples of Old Orchard Beach SBA Loans
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Where to Get Capital for Limited-Service RestaurantsLooking for SBA loans for limited-service restaurants? Try the SBA. This $85,000 limited-service restaurants loan was issued by a Maine bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Pepperell Bank & Trust, out of Biddeford, Maine. The loan was granted and they received $85,000 to help grow their Old Orchard Beach, Maine business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PEPPERELL BANK & TRUST This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 5/13/2003 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Old Orchard Beach or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Microlending as a Small Business Funding Source SBA 7A Banks in Biddeford, Maine
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