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May 12, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Elmira, Business Loans > Chemung Canal Trust Company Elmira Business Loans > Chemical And Allied Products Loan | ||||
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Chemung Canal Trust Company SBA 7A Loans
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Chemical and Allied Products Wholesalers Business LoansLooking for business loans for chemical and allied products wholesalers? The SBA may be the answer. This $20,000 chemical and allied products wholesalers loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Owego, New York was able to borrow $20,000 from Chemung Canal Trust Company. The SBA made the loan possible by guaranteeing $17,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS SBA Loan Lender CHEMUNG CANAL TRUST COMPANY This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5169 - Chemical and Allied Products NAICS Code 422690 - Chemical and Allied Products Wholesalers Loan Approval Date 8/9/2001 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. 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. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a company in Owego NY, you ought to talk with a local Owego SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Owego businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Chemung Canal Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Family and Friend Investors - Your First Financiers SBA Approved Banks in Elmira, New York
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