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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Owings Mills, Business Loans > K Bank Owings Mills Business Loans > Activities Related To Credit Intermediation Loan | ||||
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Business Loans for Manchester Entrepreneurs
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Borrowing Money for Activities Related to Credit IntermediationWith these bank loans for activities related to credit intermediation, the SBA guarantees the lender that the loan will be repaid. This activities related to credit intermediation loan for $200,000 was given to a Maryland entrepreneur in 2000. This small firm knew how to go about getting a business bank loan. Based in Manchester, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was K Bank, based in Owings Mills, Maryland. SBA Loan Borrower COMPANY TYPE: ACTIVITIES RELATED TO CREDIT INTERMEDIATION SBA Loan Lender K BANK This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 522390 - Activities Related to Credit Intermediation Loan Approval Date 12/1/2000 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 7A Banks for Owings Mills, Maryland Loans
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