Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Raising Money in Bel Air, Maryland With SBA Loans

 

 
Loan Census SBA Loan Info

Tax Preparation Services Commercial Loans

Looking for commercial loans for tax preparation services? The SBA may be the answer. This $59,500 tax preparation services loan was issued by a Maryland bank.

Getting a small business loan in Bel Air, Maryland was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The Patapsco Bank, operating out of Baltimore, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: TAX RETURN PREPARATION SERVICES
BEL AIR, MD 21014

SBA Loan Lender

THE PATAPSCO BANK
2028 JOPPA RD
BALTIMORE, MD 21234

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

7291 - Tax Return Preparation Services

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$59,500

Loan Approval from the SBA

Of the total $59,500 loan amount, the SBA guaranteed $50,575.

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. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Accountant's Role in Securing Financing

SBA Approved Banks in Baltimore, Maryland

Where to Get an SBA Loan Maryland