How to Get a Loan for Employee Leasing Services

With these commercial loans for employee leasing services, the SBA guarantees the lender that the loan will be repaid. This employee leasing services loan for $80,000 was given to a Maryland entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Regal Bank & Trust, out of Owings Mills, Maryland. The loan was granted and they received $80,000 to help grow their Owings Mills, Maryland business.

SBA Loan Borrower

COMPANY TYPE: EMPLOYEE LEASING SERVICES
OWINGS MILLS, MD 21117

SBA Loan Lender

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

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

561330 - Employee Leasing Services

Loan Approval Date

6/30/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

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 65 employees. The SBA loan application for the borrower indicated that the loan would help generate 65 new jobs and retain 65 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Regal Bank & Trust 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.

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