Borrowing Money for Residential Remodelers

With these small business loans for residential remodelers, the SBA guarantees the lender that the loan will be repaid. This residential remodelers loan for $22,000 was given to a Maryland entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Frederick, Maryland was able to borrow $22,000 from Sandy Spring Bank. The SBA made the loan possible by guaranteeing $11,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
FREDERICK, MD 21703

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

236118 - Residential Remodelers

Loan Approval Date

9/1/2006

Loan Approval Gross Amount

$22,000

Loan Approval from the SBA

Of the total $22,000 loan amount, the SBA guaranteed $11,000.

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 indicated that the loan would help retain 8 existing jobs.

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.

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