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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Towson, Business Loans > Manufacturers & Traders Trust Towson Business Loans > Automotive Repair And Maintenance Loan | ||||
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Perryville, Maryland Bank Loan
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Get an SBA Loan for Automotive Repair and MaintenanceLooking for loans for automotive repair and maintenance? An SBA loan may be just what you've been looking for. This $25,000 automotive repair and maintenance loan was issued by a Maryland bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Perryville, Maryland was able to borrow $25,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $12,500 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811198 - Automotive Repair and Maintenance Loan Approval Date 2/9/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business 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 Manufacturers & Traders Trust 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. Related Links: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Towson, Maryland
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