Anne Arundel Economic Develop. SBA Loan to Beauty Shops Company

Anne Arundel Economic Develop. has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them.

Getting a small business loan in Severna Park, Maryland was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Anne Arundel Economic Develop., operating out of Annapolis, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
SEVERNA PARK, MD 21146

SBA Loan Lender

ANNE ARUNDEL ECONOMIC DEVELOP.
2660 RIVA RD, STE 200
ANNAPOLIS, MD 21401

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves 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

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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