Men's and Boys' Cut and Sew Apparel Contractors Business Loans
With these business loans for men's and boys' cut and sew apparel contractors, the SBA guarantees the lender that the loan will be repaid. This men's and boys' cut and sew apparel contractors loan for $587,000 was given to a Maryland entrepreneur in 2003.
This small business knew how to go about getting a business bank loan. Based in Baltimore Highlands, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York.
SBA Loan Borrower
COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW APPAREL CONTRACTORS
BALTIMORE HIGHLANDS, MD 21231
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
315211 - Men's and Boys' Cut and Sew Apparel Contractors
Loan Approval Date
12/12/2003
Loan Approval Gross Amount
$587,000
Loan Approval from the SBA
Of the total $587,000 loan amount, the SBA guaranteed $440,250.
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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.
Start the Process for Getting an SBA Loan Today!
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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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
Best Banks in Amherst, New York
Browse All Business Loan Sources for New York