Amherst, New York Business Gets SBA-Guaranteed Funding from First Niagara Bank
First Niagara Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Amherst, New York was able to borrow $100,000 from First Niagara Bank. The SBA made the loan possible by guaranteeing $85,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: ADVERTISING AGENCIES
AMHERST, NY 14226
SBA Loan Lender
FIRST NIAGARA BANK
2141 ELMWOOD AVE
BUFFALO, NY 14207
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
7311 - Advertising Agencies
NAICS Code
541810 - Advertising Agencies
Loan Approval Date
9/24/2001
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 10 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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