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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Bethesda, Business Loans > Eagle Bancorp, Inc Bethesda Business Loans > General Automotive Repair Shops Loan | ||||
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Banks in Bethesda, Maryland That Make SBA Loans
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Bethesda, Maryland Bank Gives SBA Loan to General Automotive Repair Shops CompanyA Bethesda, Maryland small business loan can be yours. Learn how one firm got a $120,000 business loan from this Maryland bank. This loan to a local firm is a good example of an SBA loan. Eagle Bancorp, Inc made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender EAGLE BANCORP, INC This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring 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 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/23/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 8 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Eagle Bancorp, Inc are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Small Business Banks in Bethesda, Maryland
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