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May 3, 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 > Support Services Loan | ||||
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Raising Money in New York, New York With SBA Loans
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Support Services Commercial LoansWith these commercial loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $25,000 was given to a New York entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $25,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $12,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT SERVICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 561990 - Support Services Loan Approval Date 10/5/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours 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: Small Business Banks in Buffalo, New York
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