Commercefirst Bank Gives Bank Loan to Grocery Stores Company

Looking to get a Maryland SBA loan? This Maryland entrepreneur got an SBA loan, provided by a Maryland bank that works with the SBA to help small business owners.

Getting a small business loan in Bel Air, Maryland was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Commercefirst Bank. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BEL AIR, MD 21014

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$698,000

Loan Approval from the SBA

Of the total $698,000 loan amount, the SBA guaranteed $523,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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