Owings Mills, Maryland Bank Lends Money to Used Merchandise Stores Company in Edgewood, Maryland

Get to know Owings Mills, Maryland banks that specialize in small business loans and know how to work with entrepreneurs. Regal Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Edgewood, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Regal Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

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 lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

522298 - Nondepository Credit Intermediation

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $94,500.

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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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