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May 11, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > First Niagara Bank Buffalo Business Loans > Gaskets, Packing, And Sealing Devices Loan | ||||
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New York SBA Banks
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Buffalo, New York Lender Lends Money to Gaskets, Packing, And Sealing Devices CompanyThinking about meeting with a Buffalo, New York bank about a small business loan? Here's one New York business loan, issued by a Buffalo bank, that was approved by the SBA. Applying for an SBA loan with First Niagara Bank worked out well for our friends at one local company in Lancaster, New York. They received an SBA loan for $735,000. Awesome! SBA Loan Borrower COMPANY TYPE: GASKETS, PACKING, AND SEALING DEVICES SBA Loan Lender FIRST NIAGARA BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3053 - Gaskets, Packing, and Sealing Devices NAICS Code 339991 - Gasket, Packing, and Sealing Device Manufacturing Loan Approval Date 3/31/2000 Loan Approval Gross Amount $735,000 Loan Approval from the SBA Of the total $735,000 loan amount, the SBA guaranteed $382,200. 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 24 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Niagara Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Banks in Buffalo, New York Getting an SBA Loan in New York
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