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May 5, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Towson, Business Loans > Manufacturers & Traders Trust Towson Business Loans > Used Merchandise Stores Loan | ||||
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Small Business Loans from Manufacturers & Traders Trust
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Baltimore, Maryland Business Gets SBA-Guaranteed Funding from Manufacturers & Traders TrustAn SBA loan from Manufacturers & Traders Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Baltimore, Maryland business owner got a $75,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baltimore, Maryland was able to borrow $75,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $60,000 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender MANUFACTURERS & TRADERS TRUST 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. SIC Code 5932 - Used Merchandise Stores Loan Approval Date 9/29/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. 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 18 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Getting an SBA Loan in Maryland
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