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May 16, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Rochester, Business Loans > Genesee Regional Bank Rochester Business Loans > Custom Architectural Woodwork And Millwork Manufacturing Loan | ||||
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How to Get SBA Loans in Rochester, New York
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How to Get a Loan for Custom Architectural Woodwork and Millwork ManufacturingWith these SBA loans for custom architectural woodwork and millwork manufacturing, the SBA guarantees the lender that the loan will be repaid. This custom architectural woodwork and millwork manufacturing loan for $160,000 was given to a New York entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rochester, New York was able to borrow $160,000 from Genesee Regional Bank. The SBA made the loan possible by guaranteeing $120,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: CUSTOM ARCHITECTURAL WOODWORK AND MILLWORK MANUFACTURING SBA Loan Lender GENESEE REGIONAL BANK This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337212 - Custom Architectural Woodwork and Millwork Manufacturing Loan Approval Date 4/17/2006 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $120,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Genesee Regional Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Genesee Regional 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. Related Links: Determining Proper Capital Structure for a Business Best Banks for Small Business in Rochester, New York Getting an SBA Loan in New York
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