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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Manufacturers & Traders Trust Buffalo Business Loans > Drycleaning And Laundry Services Loan | ||||
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New York SBA Banks
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Buffalo, New York Lender Lends Money to Drycleaning And Laundry Services CompanyThinking about meeting with a Buffalo, New York bank about an SBA loan? Here's one New York business loan, issued by a Buffalo 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 firm in Albany, New York. They got an SBA loan for $400,000. Sweet! SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 1/3/2005 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 32 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Obtaining Funding - Friends and Family SBA 7A Lenders in Buffalo, New York
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