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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Utica, Business Loans > Manufacturers & Traders Trust Utica Business Loans > Motor Vehicle Parts And Accessories Loan | ||||
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Ilion, New York Bank Loan
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Borrowing Money for Gasoline Engine and Engine Parts ManufacturingLooking for loans for gasoline engine and engine parts manufacturing? Talk to a banker who works with the SBA. This $100,000 gasoline engine and engine parts manufacturing loan was issued by a New York bank. Getting a small business loan in Ilion, New York was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Manufacturers & Traders Trust, operating out of Utica, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE PARTS AND ACCESSORIES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3714 - Motor Vehicle Parts and Accessories NAICS Code 336312 - Gasoline Engine and Engine Parts Manufacturing Loan Approval Date 12/16/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a company in Ilion NY, you ought to talk with a local Ilion SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ilion businesses. While you may be able to find other ways to get money to start a business, 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:
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