New York Entrepreneur Secures Financing to Buy Metal Supermarkets Franchise

Need a loan to invest in a Metal Supermarkets franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Metal Supermarkets franchise may simply require a phone call to a local SBA banker. In 2002, Manufacturers & Traders Trust issued an SBA franchise loan to an entrepreneur in Albany, New York. Because Metal Supermarkets was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

METAL SUPERMARKET
ALBANY, NY 12205

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1761 - Roofing, Siding, and Sheet Metal Work

NAICS Code

235610 - Roofing, Siding, and Sheet Metal Contractors

Loan Approval Date

5/9/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Metal Supermarkets franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new 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.

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 $150,000 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.

Related Links:

Metal Supermarkets International

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Who Lends Money to Small Businesses in Amherst, New York

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