Automotive Repair and Maintenance Bank Loans

With these bank loans for automotive repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive repair and maintenance loan for $20,000 was given to a Maryland entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Capitol Heights, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Sandy Spring Bank, based in Olney, Maryland.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
CAPITOL HEIGHTS, MD 20743

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

811198 - Automotive Repair and Maintenance

Loan Approval Date

2/20/2007

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 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

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

If you want money for new small business in Capitol Heights MD, you ought to talk with a local Capitol Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Capitol Heights businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Sandy Spring Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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Banks in Olney, Maryland

Maryland SBA Banks