Fulton Bank Gives Bank Loan to Information Retrieval Services Company

Bank loans in Maryland are hard to find these days. We take a look at one Maryland bank loan, provided by a Pennsylvania bank, that was approved by the SBA.

This business, based in Frederick, Maryland, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Fulton Bank. We've got the inside scoop on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: INFORMATION RETRIEVAL SERVICES
FREDERICK, MD 21702

SBA Loan Lender

FULTON BANK
30 S GEORGE ST
YORK, PA 17401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7375 - Information Retrieval Services

NAICS Code

514191 - On-Line Information Services

Loan Approval Date

6/9/2000

Loan Approval Gross Amount

$310,000

Loan Approval from the SBA

Of the total $310,000 loan amount, the SBA guaranteed $232,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 10 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Frederick MD, you ought to talk with a local Frederick SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Frederick businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fulton Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

How Equity Dilution Works

Find an SBA Lender in York, Pennsylvania

SBA Participating Banks in Pennsylvania