Business Loan from Suntrust Bank Given to Title Abstract And Settlement Offices Company

An SBA loan from Suntrust Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chesapeake Beach, Maryland business owner got a $30,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chesapeake Beach, Maryland was able to borrow $30,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $15,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: TITLE ABSTRACT AND SETTLEMENT OFFICES
Chesapeake Beach, MD 20732

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

541191 - Title Abstract and Settlement Offices

Loan Approval Date

11/7/2005

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Chesapeake Beach MD, you ought to talk with a local Chesapeake Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chesapeake Beach businesses.

We can help you find the best banks for small businesses in Chesapeake Beach 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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