First United Bank & Trust Gives SBA Loan to Carpentry Work Company

Would a Maryland bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Maryland bank, which offers SBA loans to Maryland entrepreneurs.

Getting a small business loan in Knoxville, 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 First United Bank & Trust. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY WORK
KNOXVILLE, MD 21758

SBA Loan Lender

FIRST UNITED BANK & TRUST
10 PUBLIC SQUARE
HAGERSTOWN, MD 21740

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1751 - Carpentry Work

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

6/1/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Knoxville MD, you ought to talk with a local Knoxville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Knoxville businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 Banks in Hagerstown, Maryland

Getting an SBA Loan in Maryland