Borrowing Money for Accounting Services

Looking for small business loans for accounting services? Talk to a banker who works with the SBA. This $156,000 accounting services loan was issued by a Maryland bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Maryland Bank & Trust Natl, out of Lexington Park, Maryland. The loan was granted and they received $156,000 to help grow their Lexington Park, Maryland business.

SBA Loan Borrower

COMPANY TYPE: ACCOUNTING SERVICES
LEXINGTON PARK, MD 20653

SBA Loan Lender

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

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541219 - Accounting Services

Loan Approval Date

3/23/2006

Loan Approval Gross Amount

$156,000

Loan Approval from the SBA

Of the total $156,000 loan amount, the SBA guaranteed $132,600.

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 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Maryland Bank & Trust Natl and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Borrow Money

Small Bank Loans in Lexington Park, Maryland

Where to Get an SBA Loan Maryland