Annapolis, Maryland Lender Lends Money to Boat Dealers Company

Find Annapolis, Maryland banks that specialize in SBA loans and know how to work with entrepreneurs. Anne Arundel Economic Develop. is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Chester, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Anne Arundel Economic Develop.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
CHESTER, MD 21619

SBA Loan Lender

ANNE ARUNDEL ECONOMIC DEVELOP.
2660 RIVA RD, STE 200
ANNAPOLIS, MD 21401

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5551 - Boat Dealers

NAICS Code

441222 - Boat Dealers

Loan Approval Date

6/23/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Chester MD, you ought to talk with a local Chester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chester businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Anne Arundel Economic Develop. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Anne Arundel Economic Develop. 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:

Obtaining Funding - Friends and Family

Small Business Banks in Annapolis, Maryland

Getting an SBA Loan in Maryland