Horseheads, NY Entrepreneur Gets SBA Loan to Buy Rhino Linings Franchise

Borrowing money to purchase a Rhino Linings franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Horseheads, New York and are interested in buying a Rhino Linings franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RHINO LININGS OF THE SOUTHERN
HORSEHEADS, NY 14901

SBA Loan Lender

COMMUNITY BANK
300 W WATER ST
ELMIRA, NY 14901

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2851 - Paints, Varnishes, Lacquers, and Enamels

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

3/22/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rhino Linings franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Horseheads NY, you ought to talk with a local Horseheads SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Horseheads businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Bank and they will explain how you can get an SBA loan for your company.

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.

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Rhino Linings

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