Buffalo, New York Bank Lends Money to New Single-Family Housing Construction Company in Oakland, Maryland

Want to talk with a Buffalo, New York bank about a small business loan? Here's one Maryland business loan, issued by a Buffalo bank, that was approved by the SBA.

Applying for an SBA loan with Manufacturers & Traders Trust worked out well for our friends at one local company in Oakland, Maryland. They received an SBA loan for $43,000. Great job!

SBA Loan Borrower

COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
Oakland, MD 21550

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
ONE M & T PLAZA
BUFFALO, NY 14203

This lender processed this commercial 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

236115 - New Single-Family Housing Construction

Loan Approval Date

9/5/2006

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $21,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $43,000 loan. Remember, if it to be, it is up to me!

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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