Edgewood, Maryland Business Gets SBA-Guaranteed Funding from Regal Bank & Trust

Regal Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Regal Bank & Trust, out of Owings Mills, Maryland. The loan was granted and they received $70,000 to help grow their Edgewood, Maryland business.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
EDGEWOOD, MD 21040

SBA Loan Lender

REGAL BANK & TRUST
11436 CRONHILL DR, STE 1
OWINGS MILLS, MD 21117

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

Loan Approval Date

4/28/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Edgewood MD, you ought to talk with a local Edgewood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Edgewood businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Regal Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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