Nbt Bank, National Association SBA Loan to Sawmills And Planing Mills, General Company

Searching for a New York business loan? Here's one New York business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hancock, New York was able to borrow $200,000 from Nbt Bank, National Association. The SBA made the loan possible by guaranteeing $150,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS AND PLANING MILLS, GENERAL
HANCOCK, NY 13783

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
1 E MAIN ST
HANCOCK, NY 13783

This bank 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

2421 - Sawmills and Planing Mills, General

Loan Approval Date

4/25/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, 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:

Business Credit Evaluation

Best Banks in Hancock, New York

Where to Get an SBA Loan New York