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May 2, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Owings Mills, Business Loans > K Bank Owings Mills Business Loans > Plastics Products Loan | ||||
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Raising Money in Baltimore, Maryland With SBA Loans
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Where to Get Capital for Plastics Pipe and Pipe Fitting ManufacturingLooking for small business loans for plastics pipe and pipe fitting manufacturing? The SBA may be the answer. This $83,000 plastics pipe and pipe fitting manufacturing loan was issued by a Maryland bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baltimore, Maryland was able to borrow $83,000 from K Bank. The SBA made the loan possible by guaranteeing $70,550 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCTS SBA Loan Lender K BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3089 - Plastics Products NAICS Code 326122 - Plastics Pipe and Pipe Fitting Manufacturing Loan Approval Date 12/12/2002 Loan Approval Gross Amount $83,000 Loan Approval from the SBA Of the total $83,000 loan amount, the SBA guaranteed $70,550. 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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. K Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, K 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: SBA Participating Banks in Owings Mills, Maryland Browse All Business Loan Sources for Maryland
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