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May 20, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Towson, Business Loans > Manufacturers & Traders Trust Towson Business Loans > Sporting Goods Stores Loan | ||||
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Manufacturers & Traders Trust
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Mount Storm, West Virginia Business Gets SBA-Guaranteed Funding from Manufacturers & Traders TrustManufacturers & Traders Trust has a track record as a leading provider of SBA loans. Find out how this West Virginia entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Mount Storm, West Virginia, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Manufacturers & Traders Trust, based in Towson, Maryland. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS 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. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 3/8/2004 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Obtaining Funding - Friends and Family Where to Get an SBA Loan in Towson, Maryland Getting a Business Loan in Maryland
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