Suntrust Bank SBA Loan to Help Supply Services Company

Suntrust Bank has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mechanicsville, Maryland was able to borrow $80,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $68,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: HELP SUPPLY SERVICES
MECHANICSVILLE, MD 20659

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

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

7363 - Help Supply Services

NAICS Code

561320 - Temporary Help Services

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 60 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Mechanicsville MD, you ought to talk with a local Mechanicsville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mechanicsville businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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