The Columbia Bank Gives SBA Loan to Information Retrieval Services Company

Would a Maryland small business loan help your small business to grow and prosper? If so, you may want to talk with this Maryland bank, which offers SBA loans to Maryland entrepreneurs.

This business, based in Columbia, Maryland, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Columbia Bank. We've got the inside scoop on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: INFORMATION RETRIEVAL SERVICES
COLUMBIA, MD 21044

SBA Loan Lender

THE COLUMBIA BANK
7168 COLUMBIA GATEWAY DR
COLUMBIA, MD 21046

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

7375 - Information Retrieval Services

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

3/22/2001

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 83 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 The Columbia 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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Small Business Banks in Columbia, Maryland

Maryland SBA 7A Banks