Capitol Heights, MD Entrepreneur Gets SBA Loan to Buy Line-X Franchise

Borrowing money to purchase a Line-X franchise? Sandy Spring Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Line-X franchise shouldn't be too tough. In 2006, Sandy Spring Bank issued an SBA franchise loan to an entrepreneur in Capitol Heights, Maryland. Because Line-X was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

LINE-X
CAPITOL HEIGHTS, MD 20743

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

3/24/2006

Loan Approval Gross Amount

$16,500

Loan Approval from the SBA

Of the total $16,500 loan amount, the SBA guaranteed $8,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Line-X franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

Remember, you 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.

This SBA loan was for $16,500. How would you spend $16,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Line-X Corp.

Bank Credit Lines

Small Business Banks in Olney, Maryland

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