Olney, Maryland Bank Gives SBA Loan to Fabricated Metal Products Company

Get to know Olney, Maryland banks that specialize in SBA loans and know how to work with entrepreneurs. Sandy Spring Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Severna Park, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Sandy Spring Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCTS
SEVERNA PARK, MD 21148

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3499 - Fabricated Metal Products

Loan Approval Date

8/10/2000

Loan Approval Gross Amount

$246,000

Loan Approval from the SBA

Of the total $246,000 loan amount, the SBA guaranteed $184,500.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sandy Spring Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Decide How Much to Raise

Banks in Olney, Maryland

Browse All Business Loan Sources for Maryland