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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Olney, Business Loans > Sandy Spring Bank Olney Business Loans > Limited-Service Restaurants Loan | ||||
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Banks for Edgewater Business Owners
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Maryland Small Business Loan Issued to Limited-Service Restaurants CompanyBusiness loans in Maryland are tough to come by these days. We take a look at one Maryland business loan, provided by a Maryland bank, that was approved by the SBA. This small business, based in Edgewater, 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 Sandy Spring Bank. We've got the inside scoop on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender SANDY SPRING BANK This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/26/2006 Loan Approval Gross Amount $217,800 Loan Approval from the SBA Of the total $217,800 loan amount, the SBA guaranteed $163,350. 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 3 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Sandy Spring Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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:
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