Wilmington Trust Company SBA Loan to Meat And Fish Market Company

Wilmington Trust Company has a track record as a leading provider of SBA loans. Find out how this Delaware entrepreneur received an SBA loan from them.

Getting a small business loan in Rehoboth Beach, Delaware was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wilmington Trust Company, operating out of Wilmington, Delaware. Here are the details on this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: MEAT AND FISH MARKET
REHOBOTH BEACH, DE 19971

SBA Loan Lender

WILMINGTON TRUST COMPANY
1100 N MARKET ST, RODNEY SQ N
WILMINGTON, DE 19890

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5421 - Meat and Fish Market

NAICS Code

445220 - Fish and Seafood Markets

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Wilmington Trust Company SBA Loan to Meat And Fish Market Company