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May 18, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Upperco, Business Loans > Farmers & Merchants Bank Upperco Business Loans > Sporting And Athletic Goods Loan | ||||
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Farmers & Merchants Bank
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Reistertown, Maryland Business Gets SBA-Guaranteed Funding from Farmers & Merchants BankFarmers & Merchants Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maryland entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Reistertown, Maryland was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Farmers & Merchants Bank, operating out of Upperco, Maryland. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING AND ATHLETIC GOODS SBA Loan Lender FARMERS & MERCHANTS BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves 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 3949 - Sporting and Athletic Goods NAICS Code 339920 - Sporting and Athletic Goods Manufacturing Loan Approval Date 4/14/2000 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $36,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Lenders in Upperco, Maryland SBA Participating Banks in Maryland
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