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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Engineering Services Loan | ||||
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How to Get SBA Loans in East Syracuse, New York
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Where to Get Capital for Engineering ServicesLooking for small business loans for engineering services? Try the SBA. This $720,000 engineering services loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Syracuse, New York was able to borrow $720,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $540,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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 8711 - Engineering Services NAICS Code 541330 - Engineering Services Loan Approval Date 3/10/2004 Loan Approval Gross Amount $720,000 Loan Approval from the SBA Of the total $720,000 loan amount, the SBA guaranteed $540,000. 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 16 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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:
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