Business Loan from Commercefirst Bank Given to Grocery Stores Company

An SBA loan from Commercefirst Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Harve De Grace, Maryland business owner got a $584,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harve De Grace, Maryland was able to borrow $584,000 from Commercefirst Bank. The SBA made the loan possible by guaranteeing $350,400 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
HARVE DE GRACE, MD 21078

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/21/2003

Loan Approval Gross Amount

$584,000

Loan Approval from the SBA

Of the total $584,000 loan amount, the SBA guaranteed $350,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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:

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