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November 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Owings Mills, Business Loans > Regal Bank & Trust Owings Mills Business Loans > Eating Places Loan | ||||
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Maryland Small Business SBA Loans
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Regal Bank & Trust Gives SBA Loan to Eating Places CompanyWould a Maryland small business loan help your small business to grow and prosper? If so, you may want to talk with this Maryland bank, which offers SBA loans to Maryland entrepreneurs. This business, based in Baltimore, Maryland, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Regal Bank & Trust. We've got the inside scoop on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender REGAL BANK & TRUST The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/17/2005 Loan Approval Gross Amount $975,000 Loan Approval from the SBA Of the total $975,000 loan amount, the SBA guaranteed $731,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Who Lends Money to Small Businesses in Owings Mills, Maryland
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