Local Business Gets a Maryland Bank Loan

Business loans in Maryland are hard to find these days. We take a look at one Maryland business loan, provided by a Maryland bank, that was approved by the SBA.

Getting a small business loan in Landsdowne, Maryland was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Susquehanna Bank Pa. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
LANDSDOWNE, MD 21227

SBA Loan Lender

SUSQUEHANNA BANK PA
275 CLIFTON BLVD
WESTMINSTER, MD 21157

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/26/2006

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 an existing 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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Getting a Small Business Loan

SBA 7A Lenders in Westminster, Maryland

SBA Participating Banks in Maryland