Financing for Building Material Dealers

With these loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $372,000 was given to a Maryland entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glen Burnie, Maryland was able to borrow $372,000 from Susquehanna Bank Pa. The SBA made the loan possible by guaranteeing $279,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR LAYING AND OTHER FLOOR WORK
GLEN BURNIE, MD 21122

SBA Loan Lender

SUSQUEHANNA BANK PA
10455 MILL RUN CIR
OWINGS MILLS, MD 21117

This loan for a small business 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

1752 - Floor Laying and Other Floor Work

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

9/8/2005

Loan Approval Gross Amount

$372,000

Loan Approval from the SBA

Of the total $372,000 loan amount, the SBA guaranteed $279,000.

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 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

SBIR Funding

Small Business Banks in Owings Mills, Maryland

Maryland SBA Bank Lenders