How to Get a Loan for Construction, Mining, and Forestry Machinery Equipment Rental and Leasing
Looking for commercial loans for construction, mining, and forestry machinery equipment rental and leasing? Try the SBA. This $40,000 construction, mining, and forestry machinery equipment rental and leasing loan was issued by a Maryland bank.
This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Manufacturers & Traders Trust, out of Towson, Maryland. The loan was granted and they received $40,000 to help grow their Union Bridge, Maryland business.
SBA Loan Borrower
COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING
Union Bridge, MD 21791
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
305 W CHESAPEAKE AVE
TOWSON, MD 21204
This lender processed this SBA 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
532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing
Loan Approval Date
1/27/2005
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $20,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $40,000 loan. Remember, feel the fear, and do it anyway.
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 a Small Business Loan
Banks in Towson, Maryland
Getting a Business Loan in Maryland