SBA Loan from The Patapsco Bank Helps Fitness And Recreational Sports Centers Company

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

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Abingdon, Maryland was able to borrow $815,000 from The Patapsco Bank. The SBA made the loan possible by guaranteeing $611,250 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
ABINGDON, MD 21009

SBA Loan Lender

THE PATAPSCO BANK
1301 MERRITT BLVD
DUNDALK, MD 21222

This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/18/2006

Loan Approval Gross Amount

$815,000

Loan Approval from the SBA

Of the total $815,000 loan amount, the SBA guaranteed $611,250.

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 35 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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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