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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Lockport, Business Loans > First Niagara Bank Lockport Business Loans > Professional, Scientific, And Technical Services Loan | ||||
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Advice for Business Owners On Getting a Loan
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SBA Loans for Professional, Scientific, and Technical ServicesLooking for SBA loans for professional, scientific, and technical services? An SBA loan may be just what you've been looking for. This $50,000 professional, scientific, and technical services loan was issued by a New York bank. Getting a small business loan in Buffalo, New York was important for this business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank, operating out of Lockport, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES SBA Loan Lender FIRST NIAGARA BANK This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 541990 - Professional, Scientific, and Technical Services Loan Approval Date 2/25/2008 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 29 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 29 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Niagara Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Banks for Lockport, New York Loans
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