Growing Company Gets a Maryland Business Loan

Would a Maryland bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Maryland bank, which offers SBA loans to Maryland entrepreneurs.

Getting a small business loan in Patterson, Maryland was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from K Bank. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
PATTERSON, MD 21231

SBA Loan Lender

K BANK
11407 CRONHILL DR, STE N
OWINGS MILLS, MD 21117

This lender issued this particular loan 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.

NAICS Code

722410 - Drinking Places

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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