Bank Loans for Service Establishment Equipment and Supplies Wholesalers

Looking for bank loans for service establishment equipment and supplies wholesalers? An SBA loan may be just what you've been looking for. This $250,000 service establishment equipment and supplies wholesalers loan was issued by a Maryland bank.

This small firm knew how to go about getting a business bank loan. Based in Elkridge, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Sandy Spring Bank, based in Sandy Spring, Maryland.

SBA Loan Borrower

COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES WHOLESALERS
ELKRIDGE, MD 21075

SBA Loan Lender

SANDY SPRING BANK
908 OLNEY-SANDY SPRING RD
SANDY SPRING, MD 20860

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421850 - Service Establishment Equipment and Supplies Wholesalers

Loan Approval Date

12/9/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 25 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sandy Spring Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sandy Spring Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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