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November 14, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Baltimore, Business Loans > Manufacturers & Traders Trust Baltimore Business Loans > Personal Services Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Where to Get Capital for Personal ServicesLooking for small business loans for personal services? Try the SBA. This $90,000 personal services loan was issued by a Maryland bank. This company knew how to go about getting a business bank loan. Based in Landenberg, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Manufacturers & Traders Trust, based in Baltimore, Maryland. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812990 - Personal Services Loan Approval Date 2/21/2002 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $45,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 20 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Baltimore, Maryland
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