
<PAGE>

                                                                  EXHIBIT 10.8.5
 
                           SANTA BARBARA BANK & TRUST
                                PROMISSORY NOTE

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<CAPTION> 
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          PRINCIPAL               LOAN DATE       MATURITY      LOAN NO     CALL     COLLATERAL     ACCOUNT     OFFICER     INITIALS
<S>                               <C>             <C>           <C>         <C>      <C>            <C>         <C>         <C>
         $285,430.11              03-23-1998     01-01-2001      17735      4A           910         14492       PWM
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 References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan
 or item.
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</TABLE>

<TABLE> 

<S>                                                                              <C>                                  
 BORROWER:  THE BALANCE BAR COMPANY                                              LENDER:  SANTA BARBARA BANK & TRUST  
            1015 MARK AVENUE                                                              MAIN OFFICE                 
            CARPINTERIA, CA 93013-2912                                                    C/O LOAN SERVICES           
                                                                                          P.O. BOX 1173               
                                                                                          SANTA BARBARA, CA 93102-1173 
====================================================================================================================================
</TABLE> 

PRINCIPAL AMOUNT: $285,430.11 INITIAL RATE: 9.500% DATE OF NOTE: MARCH 23, 1998

PROMISE TO PAY.  THE BALANCE BAR COMPANY ("BORROWER") PROMISES TO PAY TO SANTA
BARBARA BANK & TRUST ("LENDER"), OR ORDER, IN LAWFUL MONEY OF THE UNITED STATES
OF AMERICA, THE PRINCIPAL AMOUNT OF TWO HUNDRED EIGHTY FIVE THOUSAND FOUR
HUNDRED THIRTY & 11/100 DOLLARS ($285,430.11), TOGETHER WITH INTEREST ON THE
UNPAID PRINCIPAL BALANCE FROM MARCH 23, 1998, UNTIL PAID IN FULL.

PAYMENT.  SUBJECT TO ANY PAYMENT CHANGES RESULTING FROM CHANGES IN THE INDEX,
BORROWER WILL PAY THIS LOAN ON DEMAND, OR IF NO DEMAND IS MADE, IN 33 REGULAR
PAYMENTS OF $9,634.64 EACH AND ONE IRREGULAR LAST PAYMENT ESTIMATED AT
$7,268.85.  BORROWER'S FIRST PAYMENT IS DUE APRIL 1, 1998, AND ALL SUBSEQUENT
PAYMENTS ARE DUE ON THE SAME DAY OF EACH MONTH AFTER THAT.  BORROWER'S FINAL
PAYMENT DUE JANUARY 1, 2001, WILL BE FOR ALL PRINCIPAL AND ALL ACCRUED INTEREST
NOT YET PAID.  PAYMENTS INCLUDE PRINCIPAL AND INTEREST.  The annual interest
rate for this Note is computed on a 365/360 basis; that is, by applying the
ratio of the annual interest rate over a year of 360 days, multiplied by the
outstanding principal balance, multiplied by the actual number of days the
principal balance is outstanding.  Borrower will pay Lender at Lender's address
shown above or at such other place as Lender may designate in writing.  Unless
otherwise agreed or required by applicable law, payments will be applied first
to accrued unpaid interest, then to principal, and any remaining amount to any
unpaid collection costs and late charges.

VARIABLE INTEREST RATE.  The interest rate on this Note is subject to change
from time to time based on changes in an independent index which is the Prime
rate as published in the Wall Street Journal.  When a range of rates has been
published, the higher of the rates will be used (the "Index").  The Index is not
necessarily the lowest rate charged by Lender on its loans.  If the Index
becomes unavailable during the term of this loan, Lender may designate a
substitute index after notice to Borrower.  Lender will tell Borrower the
current Index rate upon Borrower's request.  Borrower understands that Lender
may make loans based on other rates as well.  The interest rate change will not
occur more often than each day.  THE INDEX CURRENTLY IS 8.500%.  THE INTEREST
RATE TO BE APPLIED TO THE UNPAID PRINCIPAL BALANCE OF THIS NOTE WILL BE AT A
RATE OF 1.000 PERCENTAGE POINT OVER THE INDEX, RESULTING IN AN INITIAL RATE OF
9.500%.  NOTICE:  Under no circumstances will the interest rate on this Note be
more than the maximum rate allowed by applicable law.  Whenever increases occur
in the interest rate, Lender, at its option, may do one or more of the
following: (a) increase Borrower's payments to ensure Borrower's loan will pay
off by its original final maturity date, (b) increase Borrower's payments to
cover accruing interest, (c) increase the number of Borrower's payments, and (d)
continue Borrower's payments at the same amount and increase Borrower's final
payment.

PREPAYMENT; MINIMUM INTEREST CHARGE.  In any event, even upon full prepayment of
this Note, Borrower understands that Lender is entitled to a MINIMUM INTEREST
CHARGE OF $100.00.  Other than Borrower's obligation to pay any minimum interest
charge, Borrower may pay without penalty all or a portion of the amount owed
earlier than it is due.  Early payments will not, unless agreed to by Lender in
writing, relieve Borrower of Borrower's obligation to continue to make payments
under the payment schedule.  Rather, they will reduce the principal balance due
and may result in Borrower making fewer payments.

LATE CHARGE.  If a payment is 15 DAYS OR MORE LATE, Borrower will be charged
5.000% OF THE REGULARLY SCHEDULED PAYMENT.

DEFAULT.  Borrower will be in default if any of the following happens: (a)
Borrower fails to make any payment when due.  (b) Borrower breaks any promise
Borrower has made to Lender, or Borrower fails to comply with or to perform when
due any other term, obligation, covenant, or condition contained in this Note or
any agreement related to this Note, or in any other agreement or loan Borrower
has with Lender.  (c) Any representation or statement made or furnished to
Lender by Borrower or on Borrower's behalf is false or misleading in any
material respect either now or at the time made or furnished.  (d) Borrower
becomes insolvent, a receiver is appointed for any part of Borrower's property,
Borrower makes an assignment for the benefit of creditors, or any proceeding is
commenced either by Borrower or against Borrower under any bankruptcy or
insolvency laws.  (e) Any creditor tries to take any of Borrower's property on
or in which Lender has a lien or security interest.  This includes a garnishment
of any of Borrower's accounts with Lender.  (f) Any guarantor dies or any of the
other events described in this default section occurs with respect to any
guarantor of this Note.  (g) A material adverse change occurs in Borrower's
financial condition, or Lender believes the prospect of payment or performance
of the Indebtedness is impaired.  (h) Lender in good faith deems itself
insecure.

If any default, other than a default in payment, is curable and if Borrower has
not been given a notice of a breach of the same provision of this Note within
the preceding twelve (12) months, it may be cured (and no event of default will
have occurred) if Borrower, after receiving written notice from Lender demanding
cure of such default: (a) cures the default within fifteen (15) days; or (b) if
the cure requires more than fifteen (15) days, immediately initiates steps which
Lender deems in Lender's sole discretion to be sufficient to cure the default
and thereafter continues and completes all reasonable and necessary steps
sufficient to produce compliance as soon as reasonably practical.

<PAGE>
 
03-29-1998                       PROMISSORY NOTE                     
LOAN NO. 16450                    (CONTINUED)

================================================================================

LENDER'S RIGHTS.  Upon default, Lender may declare the entire unpaid principal
balance on this Note and all accrued unpaid interest immediately due, without
notice, and then Borrower will pay that amount.  Lender may hire or pay someone
else to help collect this Note if Borrower does not pay.  Borrower also will pay
Lender that amount.  This includes, subject to any limits under applicable law,
Lender's attorneys' fees and Lender's legal expenses whether or not there is a
lawsuit, including attorneys' fees and legal expenses for bankruptcy proceedings
(including efforts to modify or vacate any automatic stay or injunction),
appeals, and any anticipated post-judgment collection services.  Borrower also
will pay any court costs, in addition to all other sums provided by law.  THIS
NOTE HAS BEEN DELIVERED TO LENDER AND ACCEPTED BY LENDER IN THE STATE OF
CALIFORNIA. IF THERE IS A LAWSUIT, BORROWER AGREES UPON LENDER'S REQUEST TO
SUBMIT TO THE JURISDICTION OF THE COURTS OF SANTA BARBARA COUNTY, THE STATE OF
CALIFORNIA. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF CALIFORNIA.

COLLATERAL.  This Note is secured by a Security Agreement dated March 23, 1998,
a UCC-1 Financing Statement which filed March 3, 1997, as File No. 9706660259
and a UCC-2 Amendment dated March 23, 1998, not yet filed, also security
commercial loan #14492-16450.

ADDITIONAL PROVISIONS.  I represent and warrant to Lender that the verbal or
written financial information given is true and correct and that there has been
no adverse change in the financial information.  I also waive the provisions of
section 1801.21 of the California Vehicle Code relating to accessibility to
Department of Motor Vehicle information.

APPLICATION OF PAYMENTS.  Each monthly Installment Payment (principal including
interest) received by Lender prior to the due date or after the due date but
prior to the date on which a late payment charge accrues shall be credited
against the outstanding obligation as of the date on which such installment
payment was first due.  No regular monthly installment that is paid prior to its
due date shall be deemed a prepayment, regardless of when made, unless (a) the
amount of such payment exceeds the regularly scheduled monthly installment, and
(b) the amount of such prepayment is not prohibited by any other provision of
this Note.

NAME CHANGE.  At this time the name of this business has been changed from the
Bio-Engineered Foods, Inc. to The Balance Bar Company.

GENERAL PROVISIONS.  This Note is payable on demand.  The inclusion of specific
default provisions or rights of Lender shall not preclude Lender's right to
declare payment of this Note on its demand.  Lender may delay or forgo enforcing
any of its rights or remedies under this Note without losing them.  Borrower and
any other person who signs, guarantees or endorses this Note, to the extent
allowed by law, waive any applicable statute of limitations, presentment, demand
for payment, protest and notice of dishonor.  Upon any change in the terms of
this Note, and unless otherwise expressly stated in writing, no party who signs
this Note, whether as maker, guarantor, accommodation maker or endorser, shall
be released from liability.  All such parties agree that Lender may renew or
extend (repeatedly and for any length of time) this loan, or release any party
or guarantor or collateral; or impair, fail to realize upon or perfect Lender's
security interest in the collateral; and take any other action deemed necessary
by Lender without the consent of or notice to anyone.  All such parties also
agree that Lender may modify this loan without the consent of or notice to
anyone other than the party with whom the modification is made.

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF
THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS.  BORROWER AGREES TO
THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE.

BORROWER:

THE BALANCE BAR COMPANY


By: _______________________________________
    James A. Wolfe, Chief Executive Officer

By: _______________________________________
    Thomas J. Flahie, Senior Vice President,
    Finance & Administration

================================================================================
Variable Rate. Balloon.     LASER PRO. REG. U.S. Pat. & T.M. Off., Ver. 3.24(c)
                            1998 CFI ProServices, Inc. All rights reserved. 
                            [CA-D202BEF.LNG6.OVL]  
