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May 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Saratoga Springs, Business Loans > The Adirondack Trust Company Saratoga Springs Business Loans > Used Merchandise Stores Loan | ||||
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Saratoga Springs, New York Bank for SBA Loans
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The Adirondack Trust Company Gives Bank Loan to Used Merchandise Stores CompanyLooking to get a New York small business loan? This New York entrepreneur got a small business loan, provided by a New York bank that works with the SBA to help small business owners. Getting a small business loan in Saratoga Springs, New York was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The Adirondack Trust Company. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender THE ADIRONDACK TRUST COMPANY 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 5932 - Used Merchandise Stores NAICS Code 453310 - Used Merchandise Stores Loan Approval Date 8/14/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money 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 The Adirondack Trust Company 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: SBA Participating Banks in Saratoga Springs, New York
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