 |
 |
December 21, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Maryland Business Loan Sources > Baltimore, Business Loans > Development Credit Fund Inc Baltimore Business Loans > Administrative Management And General Management Consulting Services Loan | ||||
 |
||||
SBA Lender Linwood
|
||||
 |
Linwood, Maryland Business Gets SBA-Guaranteed Funding from Development Credit Fund IncDevelopment Credit Fund Inc is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maryland entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Linwood, Maryland, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Development Credit Fund Inc, based in Baltimore, Maryland. SBA Loan Borrower COMPANY TYPE: ADMINISTRATIVE MANAGEMENT AND GENERAL MANAGEMENT CONSULTING SERVICES SBA Loan Lender DEVELOPMENT CREDIT FUND INC This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541611 - Administrative Management and General Management Consulting Services Loan Approval Date 11/29/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: SBA Approved Banks in Baltimore, Maryland
|
|
||
|
||||
|
|
||||