Westminster, Maryland Bank Lends Money to Operators Of Nonresidental Buildings Company in Sykesville, Maryland

Find Westminster, Maryland banks that specialize in business loans and know how to work with entrepreneurs. New Windsor State Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: OPERATORS OF NONRESIDENTAL BUILDINGS
SYKESVILLE, MD 21784

SBA Loan Lender

NEW WINDSOR STATE BANK
181 E MAIN ST
WESTMINSTER, MD 21157

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6512 - Operators of Nonresidental Buildings

NAICS Code

711310 - Promoters of Performing Arts, Sports, and Similar Events with Facilities

Loan Approval Date

10/3/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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