Simpsonville, Maryland Business Gets SBA-Guaranteed Funding from Howard Bank

An SBA loan from Howard Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Simpsonville, Maryland business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Simpsonville, Maryland, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Howard Bank, based in Ellicott City, Maryland.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
SIMPSONVILLE, MD 21150

SBA Loan Lender

HOWARD BANK
6011 UNIVERSITY BLVD, STE 370
ELLICOTT CITY, MD 21043

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

238990 - Specialty Trade Contractors

Loan Approval Date

4/10/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Simpsonville MD, you ought to talk with a local Simpsonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Simpsonville businesses.

We can help you find the best banks for small businesses in Simpsonville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

SBA Banks in Ellicott City, Maryland

SBA Participating Banks in Maryland