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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Towson, Business Loans > Manufacturers & Traders Trust Towson Business Loans > Personal And Household Goods Repair And Maintenance Loan | ||||
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Manufacturers & Traders Trust
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SBA Loan from Manufacturers & Traders Trust Helps Personal And Household Goods Repair And Maintenance CompanyManufacturers & Traders Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level. This growing company 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 $150,000 to help grow their Alexandria, Virginia business. SBA Loan Borrower COMPANY TYPE: PERSONAL AND HOUSEHOLD GOODS REPAIR AND MAINTENANCE 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 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 3/8/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. We can help you find the best banks for small businesses in Alexandria or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Banking Deregulation's Effects on Entrepreneurship SBA Approved Banks in Towson, Maryland
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