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May 18, 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 > Asphalt Paving Mixture And Block Manufacturing Loan | ||||
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Small Business Banks for Rochester Small Businesses
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Manufacturers & Traders Trust Gives SBA Loan to Asphalt Paving Mixture And Block Manufacturing CompanyLooking to get a New York bank loan? This New York entrepreneur got a bank loan, provided by a New York bank that works with the SBA to help small business owners. Getting a small business loan in Rochester, New York was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Manufacturers & Traders Trust. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: ASPHALT PAVING MIXTURE AND BLOCK MANUFACTURING SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 324121 - Asphalt Paving Mixture and Block Manufacturing Loan Approval Date 2/28/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Family and Friend Investors - Your First Financiers SBA 7A Banks for Buffalo, New York Loans
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