Owings Mills, Maryland Bank Lends Money to Motor Vehicle Parts And Accessories Company in Chantilly, Virginia

Get business loans from an Owings Mills, Maryland bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

K Bank is a Owings Mills, Maryland small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS AND ACCESSORIES
CHANTILLY, VA 20151

SBA Loan Lender

K BANK
11407 CRONHILL DR, STE N
OWINGS MILLS, MD 21117

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3714 - Motor Vehicle Parts and Accessories

NAICS Code

421140 - Motor Vehicle Parts Wholesalers

Loan Approval Date

3/18/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. K Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, K Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Credit Evaluation

SBA 7A Lenders in Owings Mills, Maryland

Maryland SBA 7A Lenders