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April 29, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Baltimore, Business Loans > Manufacturers & Traders Trust Baltimore Business Loans > Insurance Agents And Brokers Loan | ||||
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Manufacturers & Traders Trust
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Baltimore, Maryland Business Gets SBA-Guaranteed Funding from Manufacturers & Traders TrustManufacturers & Traders Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Baltimore, Maryland was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Manufacturers & Traders Trust, operating out of Baltimore, Maryland. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6411 - Insurance Agents and Brokers NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 4/12/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds 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 need money to grow a business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Manufacturers & Traders Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Manufacturers & Traders Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Advice on Getting a Small Business Loan Who Lends Money to Small Businesses in Baltimore, Maryland
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