Business Loan from Manufacturers & Traders Trust Given to Full-Service Restaurants Company

An SBA loan from Manufacturers & Traders Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eldersburg, Maryland business owner got a $245,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Manufacturers & Traders Trust, out of Baltimore, Maryland. The loan was granted and they received $245,000 to help grow their Eldersburg, Maryland business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ELDERSBURG, MD 21784

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/17/2002

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 77 new jobs and retain 80 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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