First United Bank & Trust SBA Loan to Electrical Wiring Supplies Company

Looking to get a Maryland small business loan? Here's one Maryland business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hagerstown, Maryland was able to borrow $135,000 from First United Bank & Trust. The SBA made the loan possible by guaranteeing $101,250 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
HAGERSTOWN, MD 21740

SBA Loan Lender

FIRST UNITED BANK & TRUST
19 S 2ND ST
OAKLAND, MD 21550

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

Loan Approval Date

1/28/2000

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $101,250.

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 9 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding From a Venture Capitalist

Small Business Banks in Oakland, Maryland

SBA Maryland Lenders