Clarksville, Maryland Business Gets SBA-Guaranteed Funding from The Columbia Bank

The Columbia Bank has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.

Getting a small business loan in Clarksville, Maryland was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The Columbia Bank, operating out of Columbia, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
CLARKSVILLE, MD 21029

SBA Loan Lender

THE COLUMBIA BANK
7168 COLUMBIA GATEWAY DR
COLUMBIA, MD 21046

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$810,000

Loan Approval from the SBA

Of the total $810,000 loan amount, the SBA guaranteed $607,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

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

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

How Equity Dilution Works

SBA Banks in Columbia, Maryland

Getting a Business Loan in Maryland