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May 16, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Silver Spring, Business Loans > American Bank Silver Spring Business Loans > Computer Programming Services Loan | ||||
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Silver Spring, Maryland SBA Lenders
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Silver Spring, Maryland Bank Lends Money to Computer Programming Services Company in Columbia, MarylandThinking about meeting with a Silver Spring, Maryland bank about an SBA loan? Here's one Maryland business loan, issued by a Silver Spring bank, that was approved by the SBA. Applying for an SBA loan with American Bank worked out well for our friends at one local company in Columbia, Maryland. They got an SBA loan for $150,000. Way to go! SBA Loan Borrower COMPANY TYPE: COMPUTER PROGRAMMING SERVICES SBA Loan Lender AMERICAN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7371 - Computer Programming Services NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 6/7/2002 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 36 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Columbia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 7A Banks in Silver Spring, Maryland
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