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May 2, 2024 |
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| Home > Small Business Lenders by State > Delaware Business Loan Sources > Salisbury, Business Loans > The Bank Of Delmarva Salisbury Business Loans > Repair Shops And Related Services Loan | ||||
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Raising Money in Laurel, Delaware With SBA Loans
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The Bank Of Delmarva Gives Small Business Loan to Repair Shops And Related Services CompanyDelawareBusiness loans are available to Delaware business owners through the SBA. In this case, a Maryland bank provides the loan. This small business, based in Laurel, Delaware, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Bank Of Delmarva. We've got the inside scoop on this Delaware small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender THE BANK OF DELMARVA This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services NAICS Code 562991 - Septic Tank and Related Services Loan Approval Date 4/1/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from The Bank Of Delmarva so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in Salisbury, Maryland Where to Get an SBA Loan Maryland
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