Local Business Gets a Maryland Business Loan
Business loans in Maryland are are few and far betweeen these days. We take a look at one Maryland business loan, provided by a Maryland bank, that was approved by the SBA.
Getting a small business loan in Silver Spring, Maryland was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Eaglebank. Here are the details on this Maryland small business loan.
SBA Loan Borrower
COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
SILVER SPRING, MD 20904
SBA Loan Lender
EAGLEBANK
7815 WOODMONT AVE
BETHESDA, MD 20814
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
624120 - Services for the Elderly and Persons with Disabilities
Loan Approval Date
8/6/2007
Loan Approval Gross Amount
$400,000
Loan Approval from the SBA
Of the total $400,000 loan amount, the SBA guaranteed $300,000.
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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $400,000 loan. Remember, anyone can do it... so why not you?
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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