Ithaca, New York Bank Lends Money to Specialized Local Freight Trucking Company in Binghamton, New York

Get to know Ithaca, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Alternatives Fcu is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Binghamton, New York starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Alternatives Fcu. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
BINGHAMTON, NY 13904

SBA Loan Lender

ALTERNATIVES FCU
125 N FULTON ST
ITHACA, NY 14850

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

7/9/2004

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, 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.

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