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April 28, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Roofing, Siding, And Sheet Metal Work Loan | ||||
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Baltimore SBA Loans
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Firm Gets a Maryland Bank LoanMarylandSmall business loans are available to Maryland small business owners through the SBA. In this case, an Utah bank provides the loan. Getting a small business loan in Baltimore, Maryland was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL WORK SBA Loan Lender MERRILL LYNCH BANK USA This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1761 - Roofing, Siding, and Sheet Metal Work NAICS Code 332322 - Sheet Metal Work Manufacturing Loan Approval Date 10/4/2001 Loan Approval Gross Amount $415,000 Loan Approval from the SBA Of the total $415,000 loan amount, the SBA guaranteed $311,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 32 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $415,000 loan. Remember, fight for what you want, and it will be yours! 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 Approved Banks in Salt Lake City, Utah SBA Participating Banks in Utah
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