Provident Bank Of Maryland SBA Loan to No Industry Type Specified Company

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

This growing company knew how to go about getting a business bank loan. Based in Manassas, Virginia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Provident Bank Of Maryland, based in Warrenton, Virginia.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
MANASSAS, VA 20110

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

517212 -

Loan Approval Date

6/10/2003

Loan Approval Gross Amount

$97,300

Loan Approval from the SBA

Of the total $97,300 loan amount, the SBA guaranteed $72,975.

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 31 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 35 existing jobs.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Provident Bank Of Maryland and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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