Where to Get Capital for Commercial Bakeries

Looking for small business loans for commercial bakeries? The SBA may be the answer. This $235,000 commercial bakeries loan was issued by a Maryland bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Sandy Spring Bank, out of Olney, Maryland. The loan was granted and they received $235,000 to help grow their Silver Spring, Maryland business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
SILVER SPRING, MD 20904

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $117,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 28 employees. This SBA loan request indicated that the loan would help retain 28 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sandy Spring Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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