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December 19, 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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SBA 7A Banks That Lend to Binghamton Business Owners
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Binghamton, New York Entrepreneur Gets an SBA LoanWould a New York small business loan help your small business to grow and prosper? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs. You can learn something about getting a small business loan in Binghamton, New York by studying this loan to a local company, made back in 2000. Banks like Manufacturers & Traders Trust may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS SBA Loan Lender MANUFACTURERS & TRADERS TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. 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 7/18/2000 Loan Approval Gross Amount $17,500 Loan Approval from the SBA Of the total $17,500 loan amount, the SBA guaranteed $13,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for 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 loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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: Microlending as a Small Business Funding Source SBA Banks in Binghamton, New York
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