Financing for Food Manufacturing

With these loans for food manufacturing, the SBA guarantees the lender that the loan will be repaid. This food manufacturing loan for $1,500,000 was given to a New York entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodbridge, New York was able to borrow $1,500,000 from Ups Capital Business Credit. The SBA made the loan possible by guaranteeing $1,125,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD MANUFACTURING
WOODBRIDGE, NY 12789

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

When this loan was made, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311999 - Food Manufacturing

Loan Approval Date

6/27/2005

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000.

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 150 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,500,000 loan. Remember, anyone can do it... so why not you?

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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