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May 9, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Special Industry Machinery Loan | ||||
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SBA Lender North Wales
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Manufacturers & Traders Trust SBA Loan to Special Industry Machinery CompanyManufacturers & Traders Trust has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Wales, Pennsylvania was able to borrow $100,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $85,000 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL INDUSTRY MACHINERY 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. SIC Code 3559 - Special Industry Machinery NAICS Code 333298 - Industrial Machinery Manufacturing Loan Approval Date 1/28/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 10 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Amherst, New York Banks for Small Business
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