Maryland Bank Loan Issued to Foundation, Structure, And Building Exterior Contractors Company

Would a Maryland business loan help your company expand? If so, you may want to talk with this Virginia bank, which offers SBA loans to Maryland entrepreneurs.

Getting a small business loan in Ellicott City, Maryland was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FOUNDATION, STRUCTURE, AND BUILDING EXTERIOR CONTRACTORS
Ellicott City, MD 21042

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238190 - Foundation, Structure, and Building Exterior Contractors

Loan Approval Date

12/22/2005

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $80,000.

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 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 13 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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