Bethesda, Maryland Bank Gives SBA Loan to Computer Programming Services Company

Want to talk with a Bethesda, Maryland bank about a business loan? Here's one Maryland business loan, issued by a Bethesda bank, that was approved by the SBA.

Applying for an SBA loan with Presidential Bank, Fsb worked out well for our friends at one local firm in Upper Marlboro, Maryland. They received an SBA loan for $600,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: COMPUTER PROGRAMMING SERVICES
UPPER MARLBORO, MD 20772

SBA Loan Lender

PRESIDENTIAL BANK, FSB
4520 EAST-WEST HWY
BETHESDA, MD 20814

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7371 - Computer Programming Services

NAICS Code

541511 - Custom Computer Programming Services

Loan Approval Date

9/18/2000

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 20 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Upper Marlboro MD, you ought to talk with a local Upper Marlboro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Upper Marlboro businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Bethesda, Maryland

SBA Maryland Banks