Growing Company Gets a New York Bank Loan

Bank loans in New York are hard to find these days. We take a look at one New York bank loan, provided by a New York bank, that was approved by the SBA.

You can learn something about getting a small business loan in Queensbury, New York by studying this loan to a local company, made back in 2006. Banks like First Niagara Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PRINTED CIRCUIT ASSEMBLY MANUFACTURING
QUEENSBURY, NY 12804

SBA Loan Lender

FIRST NIAGARA BANK
6950 S TRANSIT RD
LOCKPORT, NY 14094

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

334418 - Printed Circuit Assembly Manufacturing

Loan Approval Date

2/7/2006

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Niagara Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Niagara Bank 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.

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