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December 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Waldorf, Business Loans > Community Bank Of Tri-County Waldorf Business Loans > Fabricated Textile Products Loan | ||||
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Community Bank Of Tri-County
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SBA Loan from Community Bank Of Tri-County Helps Fabricated Textile Products CompanyCommunity Bank Of Tri-County and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in California, Maryland was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Of Tri-County, operating out of Waldorf, Maryland. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED TEXTILE PRODUCTS SBA Loan Lender COMMUNITY BANK OF TRI-COUNTY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2399 - Fabricated Textile Products NAICS Code 315999 - Apparel Accessories and Other Apparel Manufacturing Loan Approval Date 5/29/2002 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees. 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. This SBA loan was for $130,000. How would you spend $130,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA Banks in Waldorf, Maryland Getting a Business Loan in Maryland
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