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November 14, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Baltimore, Business Loans > Manufacturers & Traders Trust Baltimore Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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SBA 7A Banks That Lend to Maryland Small Business Owners
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Manufacturers & Traders Trust Gives Bank Loan to General Contracting For Nonresidential Buildings CompanyMarylandSmall business loans are available to Maryland small business owners through the SBA. In this case, a Maryland bank provides the loan. Getting a small business loan in Westminster, Maryland was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Manufacturers & Traders Trust. Here are the details on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 1542 - General Contracting for Nonresidential Buildings NAICS Code 235990 - Special Trade Contractors Loan Approval Date 10/17/2001 Loan Approval Gross Amount $255,000 Loan Approval from the SBA Of the total $255,000 loan amount, the SBA guaranteed $191,250. 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 20 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Best Baltimore, Maryland Banks for Small Business
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