Amherst, New York Bank Lends Money to Record And Prerecorded Tape Stores Company in Manlius, New York
Thinking about meeting with an Amherst, New York bank about an SBA loan? Here's one New York business loan, issued by an Amherst 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 business in Manlius, New York. They got an SBA loan for $50,000. Great job!
SBA Loan Borrower
COMPANY TYPE: RECORD AND PRERECORDED TAPE STORES
MANLIUS, NY 13104
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
SIC Code
5735 - Record and Prerecorded Tape Stores
NAICS Code
451220 - Prerecorded Tape, Compact Disc, and Record Stores
Loan Approval Date
8/7/2000
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 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Manufacturers & Traders Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Manufacturers & Traders Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Obtaining Funding - Getting Venture Capital
Best Amherst, New York Banks for Small Business
New York SBA 7A Lenders