SBA Loan from Regal Bank & Trust Helps Carwashes Company

An SBA loan from Regal Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Owings Mills, Maryland business owner got a $25,000 loan.

Getting a small business loan in Owings Mills, Maryland was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Regal Bank & Trust, operating out of Owings Mills, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
OWINGS MILLS, MD 21117

SBA Loan Lender

REGAL BANK & TRUST
11436 CRONHILL DR, STE 1
OWINGS MILLS, MD 21117

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

1/16/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Regal Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 - Friends and Family

SBA Participating Banks in Owings Mills, Maryland

Getting an SBA Loan in Maryland