Hagerstown, Maryland Bank Lends Money to General Contracting For Nonresidential Buildings Company in Hagerstown, Maryland

Want to talk with a Hagerstown, Maryland bank about a business loan? Here's one Maryland business loan, issued by a Hagerstown bank, that was approved by the SBA.

Applying for an SBA loan with Susquehanna Bank worked out well for our friends at one local business in Hagerstown, Maryland. They got an SBA loan for $100,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS
HAGERSTOWN, MD 71742

SBA Loan Lender

SUSQUEHANNA BANK
59 W WASHINGTON ST
HAGERSTOWN, MD 21740

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1542 - General Contracting for Nonresidential Buildings

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

12/11/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

If you are raising money in Hagerstown MD, you ought to talk with a local Hagerstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hagerstown businesses.

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:

Accountant's Role in Securing Financing

SBA 7A Banks for Hagerstown, Maryland Loans

SBA Lenders in Maryland