Amherst, New York Lender Lends Money to Plumbing, Heating, And Air Conditioning Contractors Company

An Amherst, New York SBA loan can be yours. Learn how a business got a $1,850,000 business loan from this New York bank.

This loan to an entrepreneur is a good example of an SBA loan. Manufacturers & Traders Trust made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
BUFFALO, NY 14206

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

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

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$1,850,000

Loan Approval from the SBA

Of the total $1,850,000 loan amount, the SBA guaranteed $999,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 109 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $1,850,000. How would you spend $1,850,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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