Entrepreneur Works With Baltimore, Maryland Bank to Get an SBA Loan
Find Baltimore, Maryland banks that specialize in small business loans and know how to work with entrepreneurs. Manufacturers & Traders Trust is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Springfield, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Manufacturers & Traders Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
SPRINGFIELD, MD 22151
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
25 S CHARLES ST
BALTIMORE, MD 21201
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3541 - Machine Tools, Metal Cutting Types
NAICS Code
325414 - Biological Product Manufacturing
Loan Approval Date
4/16/2001
Loan Approval Gross Amount
$300,000
Loan Approval from the SBA
Of the total $300,000 loan amount, the SBA guaranteed $270,000.
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 11 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Raising Venture Capital
SBA 7A Lenders in Baltimore, Maryland
Getting a Business Loan in Maryland