SBA Loan from Manufacturers & Traders Trust Helps Computer Related Services Company

Manufacturers & Traders Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maryland entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Manchester, Maryland was able to borrow $246,300 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $184,725 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
MANCHESTER, MD 21102

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

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

541519 - Computer Related Services

Loan Approval Date

10/28/2003

Loan Approval Gross Amount

$246,300

Loan Approval from the SBA

Of the total $246,300 loan amount, the SBA guaranteed $184,725.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $246,300. How would you spend $246,300 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:

Microlending as a Small Business Funding Source

SBA 7A Banks for Amherst, New York Loans

SBA Lenders in New York