Nbt Bank, National Association SBA Loan to Macaroni, Spaghetti, Vermicelli, And Noodles Company

An SBA loan from Nbt Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Schenectady, New York business owner got a $1,250,000 loan.

This business knew how to go about getting a business bank loan. Based in Schenectady, New York, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Nbt Bank, National Association, based in Norwich, New York.

SBA Loan Borrower

COMPANY TYPE: MACARONI, SPAGHETTI, VERMICELLI, AND NOODLES
SCHENECTADY, NY 12306

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
52 S BROAD ST
NORWICH, NY 13815

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2098 - Macaroni, Spaghetti, Vermicelli, and Noodles

NAICS Code

311823 - Dry Pasta Manufacturing

Loan Approval Date

9/12/2002

Loan Approval Gross Amount

$1,250,000

Loan Approval from the SBA

Of the total $1,250,000 loan amount, the SBA guaranteed $937,500.

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 24 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Nbt Bank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Nbt Bank, National Association 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:

Find Start-Up Capital

Best Banks in Norwich, New York

SBA Lenders in New York