Manufacturers & Traders Trust SBA Loan to Durable Goods Merchant Wholesalers Company
An SBA loan from Manufacturers & Traders Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mclean, Virginia business owner got a $50,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mclean, Virginia was able to borrow $50,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $25,000 of this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
McLean, VA 22102
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
305 W CHESAPEAKE AVE
TOWSON, MD 21204
This lender processed this SBA business 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
423990 - Durable Goods Merchant Wholesalers
Loan Approval Date
10/27/2005
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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:
Debt Financing
Best Banks for Small Business in Towson, Maryland
SBA Maryland Lenders