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May 16, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Owings Mills, Business Loans > K Bank Owings Mills Business Loans > Retail Stores Loan | ||||
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Raising Money in Columbia, Maryland With SBA Loans
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Where to Get Capital for Pet and Pet Supplies StoresWith these SBA loans for pet and pet supplies stores, the SBA guarantees the lender that the loan will be repaid. This pet and pet supplies stores loan for $150,000 was given to a Maryland entrepreneur in 2002. This small business knew how to go about getting a business bank loan. Based in Columbia, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was K Bank, based in Owings Mills, Maryland. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender K BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453910 - Pet and Pet Supplies Stores Loan Approval Date 1/24/2002 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, fight for what you want, and it will be yours! 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: Dealing With Venture Capitalists SBA Banks in Owings Mills, Maryland
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