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May 13, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Binghamton, Business Loans > Manufacturers & Traders Trust Binghamton Business Loans > Business Consulting Services Loan | ||||
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Binghamton Small Business Loans from Manufacturers & Traders Trust
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Binghamton, New York Business Gets SBA-Guaranteed Funding from Manufacturers & Traders TrustManufacturers & Traders Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Binghamton, New York was able to borrow $11,700 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $10,530 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: BUSINESS CONSULTING SERVICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8748 - Business Consulting Services NAICS Code 611710 - Educational Support Services Loan Approval Date 1/9/2002 Loan Approval Gross Amount $11,700 Loan Approval from the SBA Of the total $11,700 loan amount, the SBA guaranteed $10,530. 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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Obtaining Funding From a Venture Capitalist Good Banks for Small Business in Binghamton, New York
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