Loans for Book Stores
With these loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $6,000 was given to a Maryland entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baltimore Highlands, Maryland was able to borrow $6,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $5,100 of this Maryland small business loan.
SBA Loan Borrower
COMPANY TYPE: BOOK STORES
BALTIMORE HIGHLANDS, MD 21207
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451211 - Book Stores
Loan Approval Date
6/13/2003
Loan Approval Gross Amount
$6,000
Loan Approval from the SBA
Of the total $6,000 loan amount, the SBA guaranteed $5,100.
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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
If you need business start up money in Baltimore Highlands MD, you ought to talk with a local Baltimore Highlands SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baltimore Highlands businesses.
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.
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