Where to Get Capital for Construction and Mining Machinery and Equipment Wholesale

With these small business loans for construction and mining machinery and equipment wholesale, the SBA guarantees the lender that the loan will be repaid. This construction and mining machinery and equipment wholesale loan for $900,000 was given to a Maryland entrepreneur in 2000.

Getting a small business loan in Baltimore, Maryland was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The Patapsco Bank, operating out of Dundalk, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY
BALTIMORE, MD 21227

SBA Loan Lender

THE PATAPSCO BANK
1301 MERRITT BLVD
DUNDALK, MD 21222

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5082 - Construction and Mining Machinery

NAICS Code

421810 - Construction and Mining Machinery and Equipment Wholesale

Loan Approval Date

8/18/2000

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 only one employee. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 The Patapsco Bank 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.

Related Links:

Startup Funding Tip

SBA Participating Banks in Dundalk, Maryland

Maryland SBA Banks