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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Binghamton, Business Loans > Manufacturers & Traders Trust Binghamton Business Loans > Men's And Boys' Clothing And Furnishings Loan | ||||
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Banks in New York
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Small Business Loans for Men's and Boys' Clothing and Furnishing WholesalersLooking for small business loans for men's and boys' clothing and furnishing wholesalers? The SBA may be the answer. This $25,000 men's and boys' clothing and furnishing wholesalers loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Binghamton, New York was able to borrow $25,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $18,750 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This SBA 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 5136 - Men's and Boys' Clothing and Furnishings NAICS Code 422320 - Men's and Boys' Clothing and Furnishing Wholesalers Loan Approval Date 5/12/2000 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $18,750. 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding - How to Decide How Much to Raise SBA Approved Banks in Binghamton, New York Getting a Business Loan in New York
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