Glen Burnie, MD Entrepreneur Gets SBA Loan to Buy Dollar Discount Stores Franchise

Need a loan to invest in a Dollar Discount Stores franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dollar Discount Stores franchise requires some effort but others before you have been successful. In 2002, Manufacturers & Traders Trust issued an SBA franchise loan to an entrepreneur in Glen Burnie, Maryland. Because Dollar Discount Stores was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

DOLLAR DISCOUNT STORE
GLEN BURNIE, MD 21061

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
405 WASHINGTON AVE
TOWSON, MD 21204

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

4/16/2002

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dollar Discount Stores franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $115,000 loan. Remember, if it to be, it is up to me!

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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