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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Columbia, Business Loans > Bank Of America Columbia Business Loans > Health And Allied Services Loan | ||||
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South Carolina Bank SBA Loans
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Bank Of America SBA Loan to Health And Allied Services CompanyLooking to get a Maryland SBA loan? Here's one Maryland business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laurel, Maryland was able to borrow $60,000 from Bank Of America. The SBA made the loan possible by guaranteeing $48,000 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: HEALTH AND ALLIED SERVICES SBA Loan Lender BANK OF AMERICA This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8099 - Health and Allied Services Loan Approval Date 6/1/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. 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 5 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. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Columbia, South Carolina Where to Get an SBA Loan South Carolina
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