Rockville, Maryland Lender Lends Money to Military Armored Vehicle, Tank, And Tank Component Manufacturing Company

A Rockville, Maryland SBA loan can be yours. Learn how a business got a $750,000 business loan from this Maryland bank.

This loan to an entrepreneur is a good example of an SBA loan. Capital Bank made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: MILITARY ARMORED VEHICLE, TANK, AND TANK COMPONENT MANUFACTURING
CHANTILLY, VA 20151

SBA Loan Lender

CAPITAL BANK
ONE CHURCH ST, STE 300
ROCKVILLE, MD 20850

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.

NAICS Code

336992 - Military Armored Vehicle, Tank, and Tank Component Manufacturing

Loan Approval Date

1/23/2007

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Rockville, Maryland

Getting an SBA Loan in Maryland