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May 15, 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 > Schiffli Machine Embroidery Loan | ||||
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Manufacturers & Traders Trust
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Manufacturers & Traders Trust SBA Loan to Schiffli Machine Embroidery CompanyManufacturers & 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 Endicott, New York was able to borrow $118,200 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $88,650 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: SCHIFFLI MACHINE EMBROIDERY SBA Loan Lender MANUFACTURERS & TRADERS TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 313222 - Schiffli Machine Embroidery Loan Approval Date 7/8/2005 Loan Approval Gross Amount $118,200 Loan Approval from the SBA Of the total $118,200 loan amount, the SBA guaranteed $88,650. 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 112 employees. The SBA loan application for the borrower indicated that the loan would help generate 11 new jobs and retain 11 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options Good Banks for Small Business in Buffalo, New York
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