Chemical and Allied Products Merchant Wholesalers Loans
With these loans for chemical and allied products merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This chemical and allied products merchant wholesalers loan for $320,000 was given to a New York entrepreneur in 2007.
Getting a small business loan in Horseheads, New York was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Chemung Canal Trust Company, operating out of Elmira, New York. Here are the details on this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS MERCHANT WHOLESALERS
HORSEHEADS, NY 14845
SBA Loan Lender
CHEMUNG CANAL TRUST COMPANY
ONE CHEMUNG CANAL PLZ
ELMIRA, NY 14902
This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.
NAICS Code
424690 - Chemical and Allied Products Merchant Wholesalers
Loan Approval Date
7/31/2007
Loan Approval Gross Amount
$320,000
Loan Approval from the SBA
Of the total $320,000 loan amount, the SBA guaranteed $240,000.
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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chemung Canal Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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 Incubators
SBA 7A Banks for Elmira, New York Loans
SBA Lenders in New York