Small Business Loans for Roofing Contractors

Looking for small business loans for roofing contractors? Try the SBA. This $350,000 roofing contractors loan was issued by a Maryland bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Provident Bank Of Maryland, out of Baltimore, Maryland. The loan was granted and they received $350,000 to help grow their Richmond, Virginia business.

SBA Loan Borrower

COMPANY TYPE: ROOFING CONTRACTORS
RICHMOND, VA 23220

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
114 E LEXINGTON ST
BALTIMORE, MD 21202

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238160 - Roofing Contractors

Loan Approval Date

6/15/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 66 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 66 existing jobs.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Provident Bank Of Maryland and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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