Olney, Maryland Bank Lends Money to Landscaping Services Company in Ellicott City, Maryland

Find Olney, Maryland banks that specialize in business loans and know how to work with entrepreneurs. Sandy Spring Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
ELLICOTT CITY, MD 21227

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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