Business Loans for Special Needs Transportation

With these business loans for special needs transportation, the SBA guarantees the lender that the loan will be repaid. This special needs transportation loan for $434,000 was given to a Maryland entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Baltimore Highlands, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of The West, based in San Francisco, California.

SBA Loan Borrower

COMPANY TYPE: SPECIAL NEEDS TRANSPORTATION
BALTIMORE HIGHLANDS, MD 21215

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485991 - Special Needs Transportation

Loan Approval Date

3/17/2004

Loan Approval Gross Amount

$434,000

Loan Approval from the SBA

Of the total $434,000 loan amount, the SBA guaranteed $325,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The West that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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