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April 27, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Color Me Mine Loan | ||||
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Tips for Getting a Franchise Loan
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Pittsford, NY Entrepreneur Gets SBA Loan to Buy Color Me Mine Franchising, Inc FranchiseNeed money to purchase a Color Me Mine Franchising, Inc franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA. Color Me Mine Franchising, Inc franchise loans are available to Pittsford, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Manufacturers & Traders Trust, based in Amherst, New York, issued an SBA franchise loan for a Color Me Mine Franchising, Inc franchise in 2003. We've got all the details on this New York small business loan. SBA Loan Borrower COLOR ME MINE SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3295 - Minerals and Earths, Ground or Otherwise Treated NAICS Code 212325 - Clay and Ceramic and Refractory Minerals Mining Loan Approval Date 9/22/2003 Loan Approval Gross Amount $122,800 Loan Approval from the SBA Of the total $122,800 loan amount, the SBA guaranteed $104,380. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Color Me Mine Franchising, Inc franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Manufacturers & Traders Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Manufacturers & Traders Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Microlending as a Small Business Funding Source Good Banks for Small Business in Amherst, New York Browse All Business Loan Sources for New York
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