Entrepreneur Works With Olney, Maryland Bank to Get an SBA Loan

Get to know Olney, Maryland banks that specialize in SBA loans and know how to work with entrepreneurs. Sandy Spring Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Gambrills, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Sandy Spring Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES
GAMBRILLS, MD 21054

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0742 - Veterinary Services for Animal Specialties

NAICS Code

541940 - Veterinary Services

Loan Approval Date

12/13/2001

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Gambrills MD, you ought to talk with a local Gambrills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gambrills businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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SBA 7A Banks for Olney, Maryland Loans

SBA Lenders in Maryland