Raising Money for Industrial Supplies Merchant Wholesalers

With these bank loans for industrial supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial supplies merchant wholesalers loan for $1,500,000 was given to a New York entrepreneur in 2005.

Getting a small business loan in Buffalo, New York was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank, operating out of Buffalo, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
BUFFALO, NY 14217

SBA Loan Lender

FIRST NIAGARA BANK
2421 MAIN ST
BUFFALO, NY 14214

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423840 - Industrial Supplies Merchant Wholesalers

Loan Approval Date

10/6/2005

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 20 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Buffalo NY, you ought to talk with a local Buffalo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Buffalo businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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