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May 16, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Warrenton, Business Loans > Provident Bank Of Maryland Warrenton Business Loans > Children's And Infants' Clothing Stores Loan | ||||
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Provident Bank Of Maryland
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Business Loan from Provident Bank Of Maryland Given to Children's And Infants' Clothing Stores CompanyAn SBA loan from Provident Bank Of Maryland typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Charlottesville, Virginia business owner got a $50,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charlottesville, Virginia was able to borrow $50,000 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $42,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES SBA Loan Lender PROVIDENT BANK OF MARYLAND This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448130 - Children's and Infants' Clothing Stores Loan Approval Date 3/30/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 $50,000 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: SBA Banks in Warrenton, Virginia
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