Provident Bank Of Maryland SBA Loan to Recreational Goods Rental Company

An SBA loan from Provident Bank Of Maryland typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Richmond, Virginia business owner got a $235,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Provident Bank Of Maryland, out of Warrenton, Virginia. The loan was granted and they received $235,000 to help grow their Richmond, Virginia business.

SBA Loan Borrower

COMPANY TYPE: RECREATIONAL GOODS RENTAL
RICHMOND, VA 23230

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

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

532292 - Recreational Goods Rental

Loan Approval Date

3/6/2007

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $176,250.

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 indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Richmond VA, you ought to talk with a local Richmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richmond businesses.

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.

Related Links:

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Find an SBA Lender in Warrenton, Virginia

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