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May 20, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Construction Machinery Manufacturing Loan | ||||
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Banks That Lend to Rochester Small Business Owners
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Firm Gets a New York Bank LoanWant a New York small business loan? This New York entrepreneur got a small business loan, provided by a New York bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Rochester, New York by studying this loan to a local company, made back in 2002. Banks like Manufacturers & Traders Trust may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION MACHINERY MANUFACTURING SBA Loan Lender MANUFACTURERS & TRADERS TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333120 - Construction Machinery Manufacturing Loan Approval Date 5/15/2002 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 38 employees. The SBA loan application for the borrower did not indicate that the small business promised 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? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Amherst, New York Banks for Small Business
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