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May 16, 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 > Machine Shops Loan | ||||
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Manufacturers & Traders Trust SBA Loans
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Machine Shops LoansWith these loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $350,000 was given to a New York entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Syracuse, New York was able to borrow $350,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $175,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This loan 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 332710 - Machine Shops Loan Approval Date 3/30/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 53 employees. The SBA loan documents indicated that the loan would help generate 47 new jobs and retain 53 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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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