Eaglebank Gives Small Business Loan to Services Company

Bank loans in Maryland are tough to come by these days. We take a look at one Maryland bank loan, provided by a Maryland bank, that was approved by the SBA.

Getting a small business loan in Kensington, Maryland was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Eaglebank. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES
KENSINGTON, MD 20895

SBA Loan Lender

EAGLEBANK
7815 WOODMONT AVE
BETHESDA, MD 20814

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

8999 - Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

11/28/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 45 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Eaglebank 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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