Growing Company Gets a Maryland Small Business Loan
Bank loans in Maryland are hard to find these days. We take a look at one Maryland bank loan, provided by a Maryland bank, that was approved by the SBA.
Getting a small business loan in Temple Hills, Maryland was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Prince George's County Finan S. Here are the details on this Maryland small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
TEMPLE HILLS, MD 20748
SBA Loan Lender
PRINCE GEORGE'S COUNTY FINAN S
4640 FORBES BLVD., SUITE 200
LANHAM, MD 20706
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
3/15/2000
Loan Approval Gross Amount
$110,000
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $82,500.
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 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This SBA loan was for $110,000. How would you spend $110,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Obtaining Funding - How to Borrow Money
Good Banks for Small Business in Lanham, Maryland
Getting an SBA Loan in Maryland