Herkimer, New York Bank Gives SBA Loan to Automotive Body, Paint, And Interior Repair And Maintenance Company
Get to know Herkimer, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Manufacturers & Traders Trust is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Little Falls, New York starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Manufacturers & Traders Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
LITTLE FALLS, NY 13365
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
319 N MAIN ST
HERKIMER, NY 13350
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
9/24/2004
Loan Approval Gross Amount
$43,750
Loan Approval from the SBA
Of the total $43,750 loan amount, the SBA guaranteed $37,187.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
Every year, the SBA guarantees over $10 billion for loans just like this one.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Manufacturers & Traders Trust and they will explain how you can get an SBA loan for your company.
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.
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