Waldorf, Maryland Bank Lends Money to Video Tape Rental Company in Solomons, Maryland

Get to know Waldorf, Maryland banks that specialize in small business loans and know how to work with entrepreneurs. Maryland Bank & Trust Natl is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
SOLOMONS, MD 20688

SBA Loan Lender

MARYLAND BANK & TRUST NATL
3220 OLD WASHINGTON RD
WALDORF, MD 20602

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

10/10/2003

Loan Approval Gross Amount

$64,800

Loan Approval from the SBA

Of the total $64,800 loan amount, the SBA guaranteed $55,080.

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 8 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Maryland Bank & Trust Natl 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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