SBA Loan from Ups Capital Business Credit Helps Concrete Contractors Company

Ups Capital Business Credit and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Aberdeen, Maryland, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Ups Capital Business Credit, based in Windsor, Connecticut.

SBA Loan Borrower

COMPANY TYPE: CONCRETE CONTRACTORS
ABERDEEN, MD 21001

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235710 - Concrete Contractors

Loan Approval Date

11/26/2001

Loan Approval Gross Amount

$1,845,000

Loan Approval from the SBA

Of the total $1,845,000 loan amount, the SBA guaranteed $999,990.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ups Capital Business Credit that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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