Firm Gets a Maryland SBA Loan

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

This small business, based in Crofton, 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 Provident Bank Of Maryland. We've got the inside scoop on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: PRINTED CIRCUIT BOARDS
CROFTON, MD 21114

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3672 - Printed Circuit Boards

NAICS Code

334412 - Bare Printed Circuit Board Manufacturing

Loan Approval Date

7/15/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 13 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Crofton MD, you ought to talk with a local Crofton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Crofton businesses.

We can help you find the best banks for small businesses in Crofton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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