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May 17, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Olney, Business Loans > Sandy Spring Bank Olney Business Loans > Repair Shops And Related Services Loan | ||||
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Sandy Spring Bank Frederick, Maryland
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Sandy Spring Bank SBA Loan to Repair Shops And Related Services CompanyAn SBA loan from Sandy Spring Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Frederick, Maryland business owner got a $100,000 loan. Getting a small business loan in Frederick, Maryland was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sandy Spring Bank, operating out of Olney, Maryland. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender SANDY SPRING BANK 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 7699 - Repair Shops and Related Services NAICS Code 811219 - Electronic and Precision Equipment Repair and Maintenance Loan Approval Date 5/6/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 16 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Business Banks in Olney, Maryland
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