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December 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Olney, Business Loans > Sandy Spring Bank Olney Business Loans > Industrial Supplies Merchant Wholesalers Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Get an SBA Loan for Industrial Supplies Merchant WholesalersLooking for bank loans for industrial supplies merchant wholesalers? Try the SBA. This $150,000 industrial supplies merchant wholesalers loan was issued by a Maryland bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbia, Maryland was able to borrow $150,000 from Sandy Spring Bank. The SBA made the loan possible by guaranteeing $75,000 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender SANDY SPRING BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423840 - Industrial Supplies Merchant Wholesalers Loan Approval Date 8/30/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, if it to be, it is up to me! 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: Family and Friend Investors - Your First Financiers Small Bank Loans in Olney, Maryland Find an SBA Lender in Maryland
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