Waldorf, Maryland Lender Lends Money to Household Appliances Company

Want to talk with a Waldorf, Maryland bank about a business loan? Here's one Maryland business loan, issued by a Waldorf bank, that was approved by the SBA.

Applying for an SBA loan with Community Bank Of Tri-County worked out well for our friends at one local firm in Annapolis, Maryland. The business was able to get an SBA loan for $150,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCES
ANNAPOLIS, MD 21403

SBA Loan Lender

COMMUNITY BANK OF TRI-COUNTY
3035 LEONARDTOWN RD
WALDORF, MD 20601

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

3639 - Household Appliances

NAICS Code

335228 - Major Household Appliance Manufacturing

Loan Approval Date

4/16/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company 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?

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Waldorf, Maryland

Getting an SBA Loan in Maryland