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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Bethesda, Business Loans > Eaglebank Bethesda Business Loans > Services For The Elderly And Persons With Disabilities Loan | ||||
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Banks in Bethesda, Maryland That Make SBA Loans
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Entrepreneur Works With Bethesda, Maryland Bank to Get an SBA LoanA Bethesda, Maryland SBA loan can be yours. Learn how a company got a $485,000 business loan from this Maryland bank. This loan to an entrepreneur is a good example of an SBA loan. Eaglebank made the loan and the SBA guaranteed a portion of the loan. Many other Maryland entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES SBA Loan Lender EAGLEBANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 6/28/2005 Loan Approval Gross Amount $485,000 Loan Approval from the SBA Of the total $485,000 loan amount, the SBA guaranteed $363,750. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Reisterstown MD, you ought to talk with a local Reisterstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Reisterstown businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 From a Venture Capitalist SBA Approved Banks in Bethesda, Maryland
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