Ellicott City, Maryland Lender Lends Money to Musical Instrument And Supplies Stores Company

Get to know Ellicott City, Maryland banks that specialize in business loans and know how to work with entrepreneurs. Howard Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Columbia, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Howard Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
COLUMBIA, MD 21045

SBA Loan Lender

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

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

8/16/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

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 9 employees. The loan application indicated that the funding would help generate 3 new jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Howard Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Friends and Family Network

Who Lends Money to Small Businesses in Ellicott City, Maryland

SBA Participating Banks in Maryland