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November 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Baltimore, Business Loans > Development Credit Fund Inc Baltimore Business Loans > Women's Accessory And Specialty Stores Loan | ||||
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SBA Lender Baltimore
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Entrepreneur Works With Baltimore, Maryland Bank to Get an SBA LoanWant to talk with a Baltimore, Maryland bank about an SBA loan? Here's one Maryland business loan, issued by a Baltimore bank, that was approved by the SBA. Applying for an SBA loan with Development Credit Fund Inc worked out well for our friends at one local business in Bel Air, Maryland. They got an SBA loan for $60,000. Way to go! SBA Loan Borrower COMPANY TYPE: WOMEN'S ACCESSORY AND SPECIALTY STORES SBA Loan Lender DEVELOPMENT CREDIT FUND INC 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. SIC Code 5632 - Women's Accessory and Specialty Stores Loan Approval Date 7/25/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. 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 only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 3 new jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Development Credit Fund Inc had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Development Credit Fund Inc made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in Baltimore, Maryland Getting an SBA Loan in Maryland
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