Where to Get Capital for Activities Related to Credit Intermediation

Looking for small business loans for activities related to credit intermediation? Talk to a banker who works with the SBA. This $150,000 activities related to credit intermediation loan was issued by a Maryland bank.

This company knew how to go about getting a business bank loan. Based in Frederick, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Manufacturers & Traders Trust, based in Towson, Maryland.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE BANKERS AND LOAN CORRESPONDENTS
FREDERICK, MD 21703

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
305 W CHESAPEAKE AVE
TOWSON, MD 21204

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6162 - Mortgage Bankers and Loan Correspondents

NAICS Code

522390 - Activities Related to Credit Intermediation

Loan Approval Date

3/13/2003

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $150,000. How would you spend $150,000 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 Business Credit Cards

Good Banks for Small Business in Towson, Maryland

Maryland SBA 7A Lenders