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May 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Ithaca, Business Loans > Tompkins Trust Company Ithaca Business Loans > Commercial Bakeries Loan | ||||
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Tompkins Trust Company Business Loans Lansing (south Lansing), NY
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Tompkins Trust Company SBA Loan to Commercial Bakeries CompanyTompkins Trust Company has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lansing (south Lansing), New York was able to borrow $50,000 from Tompkins Trust Company. The SBA made the loan possible by guaranteeing $25,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL BAKERIES SBA Loan Lender TOMPKINS TRUST COMPANY This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 311812 - Commercial Bakeries Loan Approval Date 8/3/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business Although it's called an SBA loan, 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. This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Ithaca, New York Banks for Small Business Getting an SBA Loan in New York
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