SBA Loan from Manufacturers & Traders Trust Helps Men's And Boys' Clothing And Furnishings Company

Manufacturers & Traders Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Binghamton, New York was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Manufacturers & Traders Trust, operating out of Binghamton, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS
BINGHAMTON, NY 13905

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
58-68 EXCHANGE ST
BINGHAMTON, NY 13901

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

5136 - Men's and Boys' Clothing and Furnishings

NAICS Code

422320 - Men's and Boys' Clothing and Furnishing Wholesalers

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$17,700

Loan Approval from the SBA

Of the total $17,700 loan amount, the SBA guaranteed $13,275.

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. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

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

If you want money for new small business in Binghamton NY, you ought to talk with a local Binghamton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Binghamton businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Binghamton, New York

New York SBA Banks