Amherst, New York Bank Lends Money to Sporting Goods Stores And Bicycle Shops Company in Avon, New York
Thinking about meeting with an Amherst, New York bank about a small business loan? Here's one New York business loan, issued by an Amherst 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 business in Avon, New York. The business was able to get an SBA loan for $180,000. Nice!
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
AVON, NY 14414
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
12/3/2002
Loan Approval Gross Amount
$180,000
Loan Approval from the SBA
Of the total $180,000 loan amount, the SBA guaranteed $135,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $180,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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