Local Business Gets a Maryland Small Business Loan
Would a Maryland business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to Maryland entrepreneurs.
This company, based in Sabillasville, Maryland, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Loan Center, LLC. We've got the inside scoop on this Maryland small business loan.
SBA Loan Borrower
COMPANY TYPE: HOGS
SABILLASVILLE, MD 21780
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0213 - Hogs
NAICS Code
112210 - Hog and Pig Farming
Loan Approval Date
10/25/2001
Loan Approval Gross Amount
$550,000
Loan Approval from the SBA
Of the total $550,000 loan amount, the SBA guaranteed $412,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
This SBA loan was for $550,000. How would you spend $550,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Alternative Financing
SBA Banks in New York, New York
SBA New York Banks