Portland, ME Entrepreneur Gets SBA Loan to Buy Wetzel's Pretzel Franchise

Need a loan to invest in a Wetzel's Pretzel franchise? Bangor Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Portland, Maine and are interested in buying a Wetzel's Pretzel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Bangor Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

AEOLUS ENTERPRISES LLC
PORTLAND, ME 04101

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/22/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wetzel's Pretzel franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 11 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Portland 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:

Wetzel's Pretzels

Famous Venture Capitalists

Best Banks for Small Business in Bangor, Maine

Getting an SBA Loan in Maine