The Bank Of Delmarva SBA Loan to Beauty Shops Company

An SBA loan from The Bank Of Delmarva typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Salisbury, Maryland business owner got a $90,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salisbury, Maryland was able to borrow $90,000 from The Bank Of Delmarva. The SBA made the loan possible by guaranteeing $76,500 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
SALISBURY, MD 21801

SBA Loan Lender

THE BANK OF DELMARVA
2727 N SALISBURG BLVD
SALISBURY, MD 21801

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/29/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $90,000 loan. Remember, fight for what you want, and it will be yours!

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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