Provident Bank Of Maryland SBA Loan to Sporting Goods Stores Company

An SBA loan from Provident Bank Of Maryland typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Winchester, Virginia business owner got a $20,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winchester, Virginia was able to borrow $20,000 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $10,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
WINCHESTER, VA 22601

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

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