Small Business Loans for Plastics Product Manufacturing

Looking for small business loans for plastics product manufacturing? The SBA may be the answer. This $976,940 plastics product manufacturing loan was issued by a New York bank.

This small firm knew how to go about getting a business bank loan. Based in Auburn, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Niagara Bank, based in Lockport, New York.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
AUBURN, NY 13021

SBA Loan Lender

FIRST NIAGARA BANK
6950 S TRANSIT RD
LOCKPORT, NY 14094

This lender issued this commercial loan under the 7A SBA 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

3089 - Plastics Products

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

7/14/2004

Loan Approval Gross Amount

$976,940

Loan Approval from the SBA

Of the total $976,940 loan amount, the SBA guaranteed $732,705.

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 120 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Auburn NY, you ought to talk with a local Auburn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Auburn businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Niagara Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Credit Evaluation

Where to Get an SBA Loan in Lockport, New York

SBA New York Lenders