Baltimore Highlands, Maryland Business Gets SBA-Guaranteed Funding from Manufacturers & Traders Trust

An SBA loan from Manufacturers & Traders Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Baltimore Highlands, Maryland business owner got a $40,000 loan.

Getting a small business loan in Baltimore Highlands, Maryland was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Manufacturers & Traders Trust, operating out of Baltimore, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
BALTIMORE HIGHLANDS, MD 21203

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
25 S CHARLES ST
BALTIMORE, MD 21201

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5999 - Retail Stores

Loan Approval Date

8/24/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

Best Banks in Baltimore, Maryland

Getting a Business Loan in Maryland