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May 2, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Olney, Business Loans > Sandy Spring Bank Olney Business Loans > Great Harvest Bread Company Loan | ||||
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Annapolis, Maryland Bank for SBA Loans
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Borrow Money to Buy a Great Harvest Bread Co. FranchiseNeed a loan to invest in a Great Harvest Bread Co. franchise? Sandy Spring Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Great Harvest Bread Co. franchise shouldn't be overly burdensome. In 2000, Sandy Spring Bank issued an SBA franchise loan to an entrepreneur in Annapolis, Maryland. Because Great Harvest Bread Co. was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis. SBA Loan Borrower GREAT HARVEST BREAD COMPANY SBA Loan Lender SANDY SPRING BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5149 - Groceries and Related Products Loan Approval Date 6/7/2000 Loan Approval Gross Amount $110,619 Loan Approval from the SBA Of the total $110,619 loan amount, the SBA guaranteed $82,964. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Great Harvest Bread Co. franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Sandy Spring Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in Olney, Maryland
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