SBA Loan from Susquehanna Bank Pa Helps Ophthalmic Goods Company

An SBA loan from Susquehanna Bank Pa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Frederick, Maryland business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Frederick, Maryland, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Susquehanna Bank Pa, based in Owings Mills, Maryland.

SBA Loan Borrower

COMPANY TYPE: OPHTHALMIC GOODS
FREDERICK, MD 21701

SBA Loan Lender

SUSQUEHANNA BANK PA
10455 MILL RUN CIR
OWINGS MILLS, MD 21117

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3851 - Ophthalmic Goods

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

8/11/2004

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. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Susquehanna Bank Pa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 - Friends and Family

Where to Get an SBA Loan in Owings Mills, Maryland

Getting an SBA Loan in Maryland