Woodsboro, Maryland Lender Lends Money to Commercial Art And Graphic Design Company

A Woodsboro, Maryland SBA loan can be yours. Learn how a business got a $105,000 business loan from this Maryland bank.

This loan to a local firm is a good example of an SBA loan. Woodsboro Bank made the loan and the SBA guaranteed a portion of the loan. Many other Maryland entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL ART AND GRAPHIC DESIGN
FREDERICK, MD 21701

SBA Loan Lender

WOODSBORO BANK
5 N MAIN ST
WOODSBORO, MD 21798

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan 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

7336 - Commercial Art and Graphic Design

NAICS Code

541430 - Graphic Design Services

Loan Approval Date

3/6/2002

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Woodsboro Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Woodsboro 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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