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May 18, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Bethesda, Business Loans > Eaglebank Bethesda Business Loans > Drycleaning Plants Loan | ||||
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Banks in Bethesda, Maryland That Make SBA Loans
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Bethesda, Maryland Bank Lends Money to Drycleaning Plants Company in Annapolis, MarylandA Bethesda, Maryland business loan can be yours. Learn how one firm got a $652,000 business loan from this Maryland bank. This loan to a local firm is a good example of an SBA loan. Eaglebank made the loan and the SBA guaranteed a portion of the loan. Many other Maryland entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: DRYCLEANING PLANTS SBA Loan Lender EAGLEBANK This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7216 - Drycleaning Plants NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 8/28/2003 Loan Approval Gross Amount $652,000 Loan Approval from the SBA Of the total $652,000 loan amount, the SBA guaranteed $489,000. 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 32 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 $652,000 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Bethesda, Maryland Getting an SBA Loan in Maryland
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