Business Loan from Provident Bank Of Maryland Given to Beauty Shops Company

Provident Bank Of Maryland has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stafford, Virginia was able to borrow $1,021,379 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $766,034 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
STAFFORD, VA 22553

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This debt financing was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/9/2002

Loan Approval Gross Amount

$1,021,379

Loan Approval from the SBA

Of the total $1,021,379 loan amount, the SBA guaranteed $766,034.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 33 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,021,379 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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