Easton Bank And Trust Company SBA Loan to Motor Vehicle Supplies And New Parts Company

An SBA loan from Easton Bank And Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Denton, Maryland business owner got a $157,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Denton, Maryland, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Easton Bank And Trust Company, based in Easton, Maryland.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
DENTON, MD 21629

SBA Loan Lender

EASTON BANK AND TRUST COMPANY
501 IDLEWILD AVE
EASTON, MD 21601

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

12/12/2000

Loan Approval Gross Amount

$157,000

Loan Approval from the SBA

Of the total $157,000 loan amount, the SBA guaranteed $117,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Easton Bank And Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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