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May 2, 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 > Powerhouse Westminster Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Howard Bank Provides SBA Loan to Buy Nautilus Fitness Center FranchiseNeed a loan to invest in a Nautilus Fitness Center franchise? Howard Bank has a history of making these loans and they are guaranteed by the SBA. Nautilus Fitness Center franchise loans are available to Westminster, Maryland entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Howard Bank, based in Ellicott City, Maryland, issued an SBA franchise loan for a Nautilus Fitness Center franchise in 2005. We've got all the details on this Maryland small business loan. SBA Loan Borrower POWERHOUSE WESTMINSTER SBA Loan Lender HOWARD BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7991 - Physical Fitness Facilities NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 1/21/2005 Loan Approval Gross Amount $295,900 Loan Approval from the SBA Of the total $295,900 loan amount, the SBA guaranteed $221,925. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Nautilus Fitness Center franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Howard Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Howard Bank 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: Good Banks for Small Business in Ellicott City, Maryland Find an SBA Lender in Maryland
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