Amherst, New York Entrepreneur Gets a Business Loan

Business loans in New York are are few and far betweeen these days. We take a look at one New York business loan, provided by a New York bank, that was approved by the SBA.

Getting a small business loan in Amherst, New York was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from M&t Bank Corporation. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MANAGEMENT CONSULTING SERVICES
AMHERST, NY 14228

SBA Loan Lender

M&T BANK CORPORATION
ONE M & T PLZ
BUFFALO, NY 14203

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8742 - Management Consulting Services

Loan Approval Date

5/18/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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New York SBA 7A Lenders