Entrepreneur Works With Buffalo, New York Bank to Get an SBA Loan

Thinking about meeting with a Buffalo, New York bank about a business loan? Here's one New York business loan, issued by a Buffalo bank, that was approved by the SBA.

Applying for an SBA loan with Manufacturers & Traders Trust worked out well for our friends at one local company in Babylon, New York. The business was able to get an SBA loan for $850,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
BABYLON, NY 11704

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
447 WILLIAM ST, TOWNE GARDEN
BUFFALO, NY 14204

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/23/2003

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 11 employees. This SBA loan request indicated that the loan would help retain 11 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Manufacturers & Traders Trust and they will explain how you can get an SBA loan for your company.

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:

Small Business Loan

Banks in Buffalo, New York

SBA Participating Banks in New York