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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Mclean, Business Loans > Chevy Chase Bank, F.S.B. Mclean Business Loans > Car Washes Loan | ||||
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MD Small Business Loans from Chevy Chase Bank, F.S.B.
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Business Loan from Chevy Chase Bank, F.S.B. Given to Car Washes CompanyChevy Chase Bank, F.S.B. is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maryland entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Bowie, Maryland was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Chevy Chase Bank, F.S.B., operating out of Mclean, Virginia. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender CHEVY CHASE BANK, F.S.B. This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811192 - Car Washes Loan Approval Date 7/13/2005 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $107,500. 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 loan would help generate 15 new jobs and retain 15 existing jobs. Start the Process for Getting an SBA Loan Today! If you are working on finding money to start a business in Bowie MD, you ought to talk with a local Bowie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bowie 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 $215,000 loan. Remember, where there is a will, there is a way! 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: Who Lends Money to Small Businesses in Mclean, Virginia
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