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May 9, 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 > Repair Shops And Related Services Loan | ||||
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New York Bank SBA Loans
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Manufacturers & Traders Trust SBA Loan to Repair Shops And Related Services CompanySearching for a New York business loan? Here's one New York business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Syracuse, New York was able to borrow $50,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $25,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 4/7/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Manufacturers & Traders Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Manufacturers & Traders Trust 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: SBA 7A Lenders in Amherst, New York
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