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May 16, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Ellicott City, Business Loans > Howard Bank Ellicott City Business Loans > Furniture Stores Loan | ||||
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Maryland SBA 7A Lenders
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Ellicott City, Maryland Lender Lends Money to Furniture Stores CompanyAn Ellicott City, Maryland SBA loan can be yours. Learn how a business got a $700,000 business loan from this Maryland bank. This loan to an entrepreneur is a good example of an SBA loan. Howard Bank made the loan and the SBA guaranteed a portion of the loan. Many other Maryland entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender HOWARD BANK This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5712 - Furniture Stores NAICS Code 442110 - Furniture Stores Loan Approval Date 6/2/2005 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 for Ellicott City, Maryland Loans Getting an SBA Loan in Maryland
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