Frostburg, Maryland Business Gets SBA-Guaranteed Funding from Susquehanna Bank

An SBA loan from Susquehanna Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Frostburg, Maryland business owner got a $225,000 loan.

This business knew how to go about getting a business bank loan. Based in Frostburg, Maryland, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Susquehanna Bank, based in Hagerstown, Maryland.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND ATHLETIC GOODS
FROSTBURG, MD 21532

SBA Loan Lender

SUSQUEHANNA BANK
59 W WASHINGTON ST
HAGERSTOWN, MD 21740

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3949 - Sporting and Athletic Goods

NAICS Code

339920 - Sporting and Athletic Goods Manufacturing

Loan Approval Date

6/18/2003

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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 50 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $225,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Alternative Financing

SBA 7A Banks for Hagerstown, Maryland Loans

SBA Participating Banks in Maryland