Business Loan from Manufacturers & Traders Trust Given to Automotive Body, Paint, And Interior Repair And Maintenance Company
Manufacturers & 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.
This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Manufacturers & Traders Trust, out of Buffalo, New York. The loan was granted and they received $50,000 to help grow their Lexington Park, Maryland business.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
Lexington Park, MD 20653
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
ONE M & T PLAZA
BUFFALO, NY 14203
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
12/20/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 only one employee. The loan application indicated that the funding would help generate 1 new job.
Great, But How Can I Get an SBA Loan for My Business?
If you are wondering how to raise money for a business in Lexington Park MD, you ought to talk with a local Lexington Park SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lexington Park businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Manufacturers & Traders Trust and they will explain how you can get an SBA loan for your company.
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:
How to Raise Money
Find an SBA Lender in Buffalo, New York
Getting a Business Loan in New York