Entrepreneur Works With Salisbury, Maryland Bank to Get an SBA Loan

Want to talk with a Salisbury, Maryland bank about a small business loan? Here's one Maryland business loan, issued by a Salisbury bank, that was approved by the SBA.

Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local business in Princess Anne, Maryland. They got an SBA loan for $42,500. Nice!

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
PRINCESS ANNE, MD 21853

SBA Loan Lender

BRANCH BANK & TRUST
1300 S SALISBURY BLVD
SALISBURY, MD 21801

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

487210 - Scenic and Sightseeing Transportation, Water

Loan Approval Date

12/3/2001

Loan Approval Gross Amount

$42,500

Loan Approval from the SBA

Of the total $42,500 loan amount, the SBA guaranteed $36,125.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you need seed money for a small 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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