 |
 |
May 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New York Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Eating Places Loan | ||||
 |
||||
I Need an SBA 7A Loan in Binghamton, New York
|
||||
 |
Raising Money for Snack and Nonalcoholic Beverage BarsWith these bank loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $85,000 was given to a New York entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Binghamton, New York was able to borrow $85,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $72,250 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 8/8/2003 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower 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 typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Borrowing Money from Friends and Family SBA Banks in Amherst, New York Find an SBA Lender in New York
|
|
||
|
||||
|
|
||||