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May 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Columbia, Business Loans > The Columbia Bank Columbia Business Loans > Electronic Components Loan | ||||
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MD Small Business Loans from The Columbia Bank
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SBA Loan from The Columbia Bank Helps Electronic Components CompanyAn SBA loan from The Columbia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Frederick, Maryland business owner got a $432,250 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Frederick, Maryland was able to borrow $432,250 from The Columbia Bank. The SBA made the loan possible by guaranteeing $324,187 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC COMPONENTS SBA Loan Lender THE COLUMBIA BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3679 - Electronic Components NAICS Code 334419 - Electronic Component Manufacturing Loan Approval Date 5/15/2002 Loan Approval Gross Amount $432,250 Loan Approval from the SBA Of the total $432,250 loan amount, the SBA guaranteed $324,187. 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 35 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 for Small Business in Columbia, Maryland
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