Mellon Financial Corporation SBA Loan to Transportation Equipment Company

Looking to get a Maryland SBA loan? Here's one Maryland business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montgomery Village, Maryland was able to borrow $15,000 from Mellon Financial Corporation. The SBA made the loan possible by guaranteeing $11,250 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT
MONTGOMERY VILLAGE, MD 20886

SBA Loan Lender

MELLON FINANCIAL CORPORATION
ONE MELLON CTR
PITTSBURGH, PA 15258

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3799 - Transportation Equipment

Loan Approval Date

3/9/2000

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $11,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Mellon Financial Corporation are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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