Maryland Bank Loan Issued to Industrial Machinery And Equipment Company

Small business loans in Maryland are tough to come by these days. We take a look at one Maryland small business loan, provided by a Maryland bank, that was approved by the SBA.

You can learn something about getting a small business loan in Ellicott City, Maryland by studying this loan to a local company, made back in 2000. Banks like The Peoples Bank Of Elkton may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
ELLICOTT CITY, MD 21042

SBA Loan Lender

THE PEOPLES BANK OF ELKTON
130 NORTH ST
ELKTON, MD 21921

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

5084 - Industrial Machinery and Equipment

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

5/18/2000

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $675,000.

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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Elkton, Maryland

Maryland SBA 7A Lenders