Vestal, New York Bank Gives SBA Loan to Children's And Infants' Clothing Stores Company

Want to talk with a Vestal, New York bank about an SBA loan? Here's one New York business loan, issued by a Vestal bank, that was approved by the SBA.

Applying for an SBA loan with Nbt Bank, National Association worked out well for our friends at one local firm in Binghamton, New York. They got an SBA loan for $50,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES
BINGHAMTON, NY 13901

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
3121 VESTAL PKWY EAST
VESTAL, NY 13850

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

7/12/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

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 Nbt Bank, National Association 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.

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