Ellicott City, Maryland Bank Gives SBA Loan to Beauty Shops Company

Want to talk with an Ellicott City, Maryland bank about an SBA loan? Here's one Maryland business loan, issued by an Ellicott City bank, that was approved by the SBA.

Applying for an SBA loan with Howard Bank worked out well for our friends at one local firm in Columbia, Maryland. They received an SBA loan for $1,000,000. Nice!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
COLUMBIA, MD 21044

SBA Loan Lender

HOWARD BANK
6011 UNIVERSITY BLVD, STE 370
ELLICOTT CITY, MD 21043

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/20/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 35 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Columbia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Getting a Small Business Loan

Good Banks for Small Business in Ellicott City, Maryland

Getting an SBA Loan in Maryland