Hyattsville, Maryland Entrepreneur Gets a Bank Loan

Searching for a Maryland small business loan? This Maryland entrepreneur got a small business loan, provided by a District of Columbia bank that works with the SBA to help small business owners.

Getting a small business loan in Hyattsville, Maryland was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Adams National Bank. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
HYATTSVILLE, MD 20783

SBA Loan Lender

THE ADAMS NATIONAL BANK
1627 'K' ST NW, STE 200
WASHINGTON, DC 20006

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

10/24/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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