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May 2, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Dundalk, Business Loans > The Patapsco Bank Dundalk Business Loans > Marinas Loan | ||||
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Dundalk Bank Loan
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Dundalk, Maryland Lender Lends Money to Marinas CompanyGet to know Dundalk, Maryland banks that specialize in small business loans and know how to work with entrepreneurs. The Patapsco Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Baltimore, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from The Patapsco Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: MARINAS SBA Loan Lender THE PATAPSCO BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4493 - Marinas NAICS Code 713930 - Marinas Loan Approval Date 10/8/2002 Loan Approval Gross Amount $419,000 Loan Approval from the SBA Of the total $419,000 loan amount, the SBA guaranteed $314,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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 $419,000 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: Best Dundalk, Maryland Banks for Small Business
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