Westminster, Maryland Lender Lends Money to Gasoline Stations With Convenience Stores Company

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

Finding a small business loan in Westminster, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local business 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: GASOLINE STATIONS WITH CONVENIENCE STORES
WESTMINSTER, MD 21157

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

3/18/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 10 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Westminster MD, you ought to talk with a local Westminster SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westminster businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like New Windsor State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Westminster, Maryland

Getting an SBA Loan in Maryland