SBA Loan from Commercefirst Bank Helps Snack And Nonalcoholic Beverage Bars Company

An SBA loan from Commercefirst Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Severna Park, Maryland business owner got a $58,000 loan.

Getting a small business loan in Severna Park, Maryland was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Commercefirst Bank, operating out of Annapolis, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
SEVERNA PARK, MD 21146

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$58,000

Loan Approval from the SBA

Of the total $58,000 loan amount, the SBA guaranteed $49,300.

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 only one employee. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Microlending as a Small Business Funding Source

Best Banks for Small Business in Annapolis, Maryland

SBA Maryland Lenders