Dundalk, Maryland Bank Gives SBA Loan to General Automotive Repair Shops Company

Get to know Dundalk, Maryland banks that specialize in small business loans and know how to work with entrepreneurs. The Patapsco Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Laurel, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from The Patapsco Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
LAUREL, MD 20707

SBA Loan Lender

THE PATAPSCO BANK
1301 MERRITT BLVD
DUNDALK, MD 21222

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$468,400

Loan Approval from the SBA

Of the total $468,400 loan amount, the SBA guaranteed $351,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $468,400. How would you spend $468,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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