Maryland Bank Loan Issued to Building Finishing Contractors Company

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

This small business, based in Gaithersburg, 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 Access National Bank. We've got the inside scoop on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING FINISHING CONTRACTORS
GAITHERSBURG, MD 20879

SBA Loan Lender

ACCESS NATIONAL BANK
1800 ROBERT FULTON DR, STE 31
RESTON, VA 20191

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238390 - Building Finishing Contractors

Loan Approval Date

1/30/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 14 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 14 existing jobs.

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

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 Credit Cards

Where to Get an SBA Loan in Reston, Virginia

Virginia SBA 7A Lenders