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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Waldorf, Business Loans > Community Bank Of Tri-County Waldorf Business Loans > Professional Membership Organizations Loan | ||||
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Waldorf, Maryland Bank for SBA Loans
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Waldorf, Maryland Lender Lends Money to Professional Membership Organizations CompanyWant to talk with a Waldorf, Maryland bank about an SBA loan? Here's one Maryland business loan, issued by a Waldorf bank, that was approved by the SBA. Applying for an SBA loan with Community Bank Of Tri-County worked out well for our friends at one local firm in Severn, Maryland. The business was able to get an SBA loan for $100,000. Nice! SBA Loan Borrower COMPANY TYPE: PROFESSIONAL MEMBERSHIP ORGANIZATIONS SBA Loan Lender COMMUNITY BANK OF TRI-COUNTY This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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 8621 - Professional Membership Organizations NAICS Code 813920 - Professional Organizations Loan Approval Date 10/4/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 11 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Best Banks for Small Business in Waldorf, Maryland
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