Regal Bank & Trust Gives Bank Loan to Personal Services Company

Small business loans in Maryland are hard to find these days. We take a look at one Maryland small business loan, provided by a Maryland bank, that was approved by the SBA.

This company, 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: PERSONAL SERVICES
BALTIMORE, MD 21234

SBA Loan Lender

REGAL BANK & TRUST
11436 CRONHILL DR, STE 1
OWINGS MILLS, MD 21117

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7299 - Personal Services

NAICS Code

812990 - Personal Services

Loan Approval Date

11/5/2002

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Regal Bank & Trust and they will explain how you can get an SBA loan for your company.

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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