Raising Money for Technical and Trade Schools

With these business loans for technical and trade schools, the SBA guarantees the lender that the loan will be repaid. This technical and trade schools loan for $100,000 was given to a Maryland entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Hyattsville, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The Harbor Bank Of Maryland, based in Baltimore, Maryland.

SBA Loan Borrower

COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS
HYATTSVILLE, MD 20783

SBA Loan Lender

THE HARBOR BANK OF MARYLAND
25 W FAYETTE ST
BALTIMORE, MD 21201

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611519 - Technical and Trade Schools

Loan Approval Date

7/27/2004

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 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 4 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Harbor Bank Of Maryland and they will explain how you can get an SBA loan for your company.

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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