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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Drafting Services Loan | ||||
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Raising Money in Baltimore, Maryland With SBA Loans
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Business Loans for Drafting ServicesWith these business loans for drafting services, the SBA guarantees the lender that the loan will be repaid. This drafting services loan for $20,000 was given to a Maryland entrepreneur in 2005. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Suntrust Bank, out of Richmond, Virginia. The loan was granted and they received $20,000 to help grow their Baltimore, Maryland business. SBA Loan Borrower COMPANY TYPE: DRAFTING SERVICES SBA Loan Lender SUNTRUST BANK 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 541340 - Drafting Services Loan Approval Date 1/21/2005 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan 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 company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Best Banks for Small Business in Richmond, Virginia
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