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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Ellicott City, Business Loans > Howard Bank Ellicott City Business Loans > Sign Manufacturing Loan | ||||
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Howard Bank
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SBA Loan from Howard Bank Helps Sign Manufacturing CompanyHoward Bank has a track record as a leading provider of SBA loans. Find out how this Maryland entrepreneur received an SBA loan from them. Getting a small business loan in Sykesville, Maryland was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Howard Bank, operating out of Ellicott City, Maryland. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: SIGN MANUFACTURING SBA Loan Lender HOWARD BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339950 - Sign Manufacturing Loan Approval Date 9/7/2007 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 1 existing job. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Howard Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Ellicott City, Maryland Getting an SBA Loan in Maryland
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