SBA Loan from Provident Bank Of Maryland Helps Computer Systems Design Services Company

Provident Bank Of Maryland has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gaithersburg, Maryland was able to borrow $418,000 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $313,500 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
GAITHERSBURG, MD 20879

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
205 N FREDERICK AVE
GAITHERSBURG, MD 20877

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

12/20/2001

Loan Approval Gross Amount

$418,000

Loan Approval from the SBA

Of the total $418,000 loan amount, the SBA guaranteed $313,500.

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 17 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Choosing VC Firms

Small Business Banks in Gaithersburg, Maryland

Getting a Business Loan in Maryland