First Niagara Bank SBA Loan to No Industry Type Specified Company
Want a New York small business loan? Here's one New York business loan that was approved by the SBA.
This up and coming company knew how to go about getting a business bank loan. Based in Buffalo, New York, they applied for and were given an SBA-guaranteed loan in 2007. The lending bank was First Niagara Bank, based in Buffalo, New York.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BUFFALO, NY 14203
SBA Loan Lender
FIRST NIAGARA BANK
2421 MAIN ST
BUFFALO, NY 14214
This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
518111 -
Loan Approval Date
2/8/2007
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $75,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 18 employees. This SBA loan request indicated that the loan would help retain 18 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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 First Niagara Bank 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.
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