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May 19, 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 > Prerecorded Tape, Compact Disc, And Record Stores Loan | ||||
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Buffalo, New York Bank for SBA Loans
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Manufacturers & Traders Trust Gives Small Business Loan to Prerecorded Tape, Compact Disc, And Record Stores CompanyLooking to get a New York SBA loan? This New York entrepreneur got an SBA loan, provided by a New York bank that works with the SBA to help small business owners. Getting a small business loan in Buffalo, New York was a top priority for this particular business back in 2005 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: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES SBA Loan Lender MANUFACTURERS & TRADERS TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451220 - Prerecorded Tape, Compact Disc, and Record Stores Loan Approval Date 4/11/2005 Loan Approval Gross Amount $280,000 Loan Approval from the SBA Of the total $280,000 loan amount, the SBA guaranteed $210,000. 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 10 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $280,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 an SBA Lender in Buffalo, New York
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