Financing for Transportation Equipment and Supplies Wholesalers

With these loans for transportation equipment and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This transportation equipment and supplies wholesalers loan for $580,000 was given to a Maryland entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Rockville, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Manufacturers & Traders Trust, based in Baltimore, Maryland.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES
ROCKVILLE, MD 20855

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
25 S CHARLES ST
BALTIMORE, MD 21201

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5088 - Transportation Equipment and Supplies

NAICS Code

421860 - Transportation Equipment and Supplies Wholesalers

Loan Approval Date

9/14/2000

Loan Approval Gross Amount

$580,000

Loan Approval from the SBA

Of the total $580,000 loan amount, the SBA guaranteed $435,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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