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December 19, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Hornell, Business Loans > Steuben Trust Hornell Business Loans > Roofing, Siding, And Sheet Metal Work Loan | ||||
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Steuben Trust Small Business Loan
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Commercial Loans for Roofing, Siding, and Sheet Metal ContractorsLooking for commercial loans for roofing, siding, and sheet metal contractors? An SBA loan may be just what you've been looking for. This $150,000 roofing, siding, and sheet metal contractors loan was issued by a New York bank. This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Steuben Trust, out of Hornell, New York. The loan was granted and they received $150,000 to help grow their Andover, New York business. SBA Loan Borrower COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL WORK SBA Loan Lender STEUBEN TRUST This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. 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 4/24/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Hornell, New York Loans
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