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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 > Photographic Film, Paper, Plate, And Chemical Manufacturing Loan | ||||
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Rochester Small Business Loans from Genesee Regional Bank
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SBA Loan from Genesee Regional Bank Helps Photographic Film, Paper, Plate, And Chemical Manufacturing CompanyGenesee Regional Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Rochester, New York was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Genesee Regional Bank, operating out of Rochester, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHIC FILM, PAPER, PLATE, AND CHEMICAL MANUFACTURING SBA Loan Lender GENESEE REGIONAL BANK 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 debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 325992 - Photographic Film, Paper, Plate, and Chemical Manufacturing Loan Approval Date 7/16/2007 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $600,000. 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 34 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 30 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Accountant's Role in Securing Financing Best Banks in Rochester, New York
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