General Merchandise Stores Small Business Loans

Looking for small business loans for general merchandise stores? Talk to a banker who works with the SBA. This $60,000 general merchandise stores loan was issued by a Maryland bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Maryland Bank & Trust Natl, out of Lexington Park, Maryland. The loan was granted and they received $60,000 to help grow their Leonardtown, Maryland business.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
LEONARDTOWN, MD 20650

SBA Loan Lender

MARYLAND BANK & TRUST NATL
46930 SHANGRI-LA DR
LEXINGTON PARK, MD 20653

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

3/19/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 4 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees 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.

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 Maryland Bank & Trust Natl 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.

Related Links:

Financing Your Business

Small Bank Loans in Lexington Park, Maryland

Where to Get an SBA Loan Maryland