Commercefirst Bank SBA Loan to Paints, Varnishes, Lacquers, And Enamels Company

An SBA loan from Commercefirst Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Annapolis, Maryland business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Annapolis, Maryland was able to borrow $150,000 from Commercefirst Bank. The SBA made the loan possible by guaranteeing $127,500 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTS, VARNISHES, LACQUERS, AND ENAMELS
ANNAPOLIS, MD 21401

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2851 - Paints, Varnishes, Lacquers, and Enamels

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

3/4/2003

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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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