Machine Shops Bank Loans

With these bank loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $250,000 was given to a Maryland entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbia, Maryland was able to borrow $250,000 from The Patapsco Bank. The SBA made the loan possible by guaranteeing $187,500 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: SHEET METAL WORK
COLUMBIA, MD 21045

SBA Loan Lender

THE PATAPSCO BANK
1301 MERRITT BLVD
DUNDALK, MD 21222

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3444 - Sheet Metal Work

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 24 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Patapsco Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

SBA Approved Banks in Dundalk, Maryland

Getting a Business Loan in Maryland