Getting an SBA Loan for Book Stores

With these commercial loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $150,000 was given to a Maryland entrepreneur in 2005.

Getting a small business loan in St. Michaels, Maryland was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Pnc Bank, National Association, operating out of Saint Michaels, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
ST. MICHAELS, MD 21663

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
213 TALBOT ST
SAINT MICHAELS, MD 21663

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

451211 - Book Stores

Loan Approval Date

4/5/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Cash Advances

SBA 7A Banks in Saint Michaels, Maryland

Where to Get an SBA Loan Maryland