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May 18, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Fairfax, Business Loans > United Bank Fairfax Business Loans > Engineering Services Loan | ||||
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Gaithersburg, Maryland Bank Loan
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Growing Company Gets a Maryland Bank LoanMarylandBank loans are available to Maryland firms through the SBA. In this case, a Virginia bank provides the loan. Getting a small business loan in Gaithersburg, Maryland was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from United Bank. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender UNITED BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8711 - Engineering Services NAICS Code 541330 - Engineering Services Loan Approval Date 7/25/2001 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 only one employee. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Fairfax, Virginia SBA Participating Banks in Virginia
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