Rubber and Plastics Footwear Manufacturing Small Business Loans

Looking for small business loans for rubber and plastics footwear manufacturing? The SBA may be the answer. This $150,000 rubber and plastics footwear manufacturing loan was issued by a Maryland bank.

This company knew how to go about getting a business bank loan. Based in Havre De Grace, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Susquehanna Bank, based in Baltimore, Maryland.

SBA Loan Borrower

COMPANY TYPE: RUBBER AND PLASTICS FOOTWEAR
HAVRE DE GRACE, MD 21904

SBA Loan Lender

SUSQUEHANNA BANK
100 WEST RD
BALTIMORE, 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

3021 - Rubber and Plastics Footwear

NAICS Code

316211 - Rubber and Plastics Footwear Manufacturing

Loan Approval Date

7/21/2003

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Susquehanna Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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