Brookfield, New York Business Gets SBA-Guaranteed Funding from Nbt Bank, National Association

An SBA loan from Nbt Bank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brookfield, New York business owner got a $67,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brookfield, New York was able to borrow $67,500 from Nbt Bank, National Association. The SBA made the loan possible by guaranteeing $57,375 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FRUIT AND VEGETABLE MARKETS
BROOKFIELD, NY 13485

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
52 S BROAD ST
NORWICH, NY 13815

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5431 - Fruit and Vegetable Markets

NAICS Code

445230 - Fruit and Vegetable Markets

Loan Approval Date

12/11/2002

Loan Approval Gross Amount

$67,500

Loan Approval from the SBA

Of the total $67,500 loan amount, the SBA guaranteed $57,375.

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

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

Related Links:

Business Incubators

Banks in Norwich, New York

Getting an SBA Loan in New York