Growing Company Gets a Maryland Business Loan

Bank loans in Maryland are are few and far betweeen these days. We take a look at one Maryland bank loan, provided by a Pennsylvania bank, that was approved by the SBA.

Getting a small business loan in Frostburg, Maryland was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Standard Bank, Pasb. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FROSTBURG, MD 21532

SBA Loan Lender

STANDARD BANK, PASB
4785 OLD WILLIAM PENN HWY
MURRYSVILLE, PA 15668

This lender processed this commercial 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

722110 - Full-Service Restaurants

Loan Approval Date

12/19/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 75 employees. The SBA loan application for the borrower indicated that the loan would help generate 25 new jobs and retain 100 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Standard Bank, Pasb 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:

Small Business Loan

Small Bank Loans in Murrysville, Pennsylvania

Find an SBA Lender in Pennsylvania