Watervliet, New York Business Gets SBA-Guaranteed Funding from First Niagara Bank

First Niagara 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 Watervliet, New York was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank, operating out of Hudson, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WATERVLIET, NY 12189

SBA Loan Lender

FIRST NIAGARA BANK
1 HUDSON CITY CTR
HUDSON, NY 12354

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.

SIC Code

5812 - Eating Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

1/22/2004

Loan Approval Gross Amount

$375,750

Loan Approval from the SBA

Of the total $375,750 loan amount, the SBA guaranteed $281,813.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 45 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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Who Lends Money to Small Businesses in Hudson, New York

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