Business Loan from Provident Bank Of Maryland Given to Motion Picture Distribution Services Company

Provident Bank Of Maryland has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

Getting a small business loan in Richmond, Virginia was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Provident Bank Of Maryland, operating out of Richmond, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE DISTRIBUTION SERVICES
RICHMOND, VA 23219

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
3124 W BROAD ST
RICHMOND, VA 23230

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7829 - Motion Picture Distribution Services

NAICS Code

512120 - Motion Picture and Video Distribution

Loan Approval Date

12/5/2002

Loan Approval Gross Amount

$118,413

Loan Approval from the SBA

Of the total $118,413 loan amount, the SBA guaranteed $100,651.

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 4 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Provident Bank Of Maryland had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Provident Bank Of Maryland made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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