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November 14, 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 > Radiotelephone Communications Loan | ||||
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Regal Bank & Trust
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SBA Loan from Regal Bank & Trust Helps Radiotelephone Communications CompanyRegal Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Baltimore, Maryland, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Regal Bank & Trust, based in Owings Mills, Maryland. SBA Loan Borrower COMPANY TYPE: RADIOTELEPHONE COMMUNICATIONS SBA Loan Lender REGAL BANK & TRUST 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 4812 - Radiotelephone Communications NAICS Code 513322 - Cellular and Wireless Loan Approval Date 2/12/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 90 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you are working on finding money to start a business in Baltimore MD, you ought to talk with a local Baltimore SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baltimore businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $120,000 loan. Remember, feel the fear, and do it anyway. 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: A Company That Helps Entrepreneurs Small Business Banks in Owings Mills, Maryland
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