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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Manufacturers & Traders Trust Buffalo Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Requirements for Entrepreneurs On Getting a Loan
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Plumbing, Heating, and Air-Conditioning Contractors LoansLooking for loans for plumbing, heating, and air-conditioning contractors? An SBA loan may be just what you've been looking for. This $50,000 plumbing, heating, and air-conditioning contractors loan was issued by a New York bank. This small firm knew how to go about getting a business bank loan. Based in Buffalo, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Manufacturers & Traders Trust, based in Buffalo, New York. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 7/9/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 no employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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