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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Baltimore, Business Loans > Manufacturers & Traders Trust Baltimore Business Loans > Metal Household Furniture Loan | ||||
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Getting a Business Loan in Baltimore, Maryland
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Growing Company Gets a Maryland Business LoanBank loans in Maryland are hard to find these days. We take a look at one Maryland bank loan, provided by a Maryland bank, that was approved by the SBA. You can learn something about getting a small business loan in Baltimore, Maryland by studying this loan to a local company, made back in 2001. Banks like Manufacturers & Traders Trust may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: METAL HOUSEHOLD FURNITURE SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2514 - Metal Household Furniture NAICS Code 337124 - Metal Household Furniture Manufacturing Loan Approval Date 8/22/2001 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in 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. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $80,000. How would you spend $80,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Bank Loans in Baltimore, Maryland
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