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May 12, 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 > Specialty Trade Contractors Loan | ||||
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New York SBA Lenders
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Buffalo, New York Lender Lends Money to Specialty Trade Contractors 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 Manufacturers & Traders Trust worked out well for our friends at one local company in Lancaster, New York. The business was able to get an SBA loan for $25,000. Sweet! SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS 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 238990 - Specialty Trade Contractors Loan Approval Date 7/11/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 20 employees. The loan application indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Manufacturers & Traders Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Dealing With Venture Capitalists SBA 7A Lenders in Buffalo, New York
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