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May 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Owings Mills, Business Loans > Regal Bank & Trust Owings Mills Business Loans > Plumbing, Heating, And Air-Conditioning Loan | ||||
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SBA 7A Banks for Edgewood, Maryland Business Owners
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Maryland SBA Loan Issued to Plumbing, Heating, And Air-Conditioning CompanyBusiness loans in Maryland are hard to find these days. We take a look at one Maryland business loan, provided by a Maryland bank, that was approved by the SBA. Getting a small business loan in Edgewood, Maryland was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Regal Bank & Trust. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING SBA Loan Lender REGAL BANK & TRUST This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1711 - Plumbing, Heating, and Air-Conditioning NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 10/18/2001 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower 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 The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Regal Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Regal Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks in Owings Mills, Maryland
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