Branch Bank & Trust Gives SBA Loan to Roofing, Siding, And Insulation Materials Company

SBA loans in Maryland are hard to find these days. We take a look at one Maryland SBA loan, provided by a Maryland bank, that was approved by the SBA.

Getting a small business loan in Columbia, Maryland was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND INSULATION MATERIALS
COLUMBIA, MD 21046

SBA Loan Lender

BRANCH BANK & TRUST
7200 BANK COURT CRESTWOOD
FREDERICK, MD 21703

This business loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5033 - Roofing, Siding, and Insulation Materials

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

12/20/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 20 employees. This SBA loan request did not indicate that the business planned to use the money 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.

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.

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