Baltimore, Maryland Lender Lends Money to Business Consulting Services Company

Want to talk with a Baltimore, Maryland bank about an SBA loan? Here's one Maryland business loan, issued by a Baltimore 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 Silver Spring, Maryland. They got an SBA loan for $150,000. Great job!

SBA Loan Borrower

COMPANY TYPE: BUSINESS CONSULTING SERVICES
SILVER SPRING, MD 20906

SBA Loan Lender

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

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8748 - Business Consulting Services

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

3/7/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Alternative Financing

SBA 7A Lenders in Baltimore, Maryland

Getting a Business Loan in Maryland