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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Roofing, Siding, And Sheet Metal Contractors Loan | ||||
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We Needed an SBA 7A Loan in Buffalo, New York and We Got One!
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Financing for Roofing, Siding, and Sheet Metal ContractorsWith these loans for roofing, siding, and sheet metal contractors, the SBA guarantees the lender that the loan will be repaid. This roofing, siding, and sheet metal contractors loan for $110,200 was given to a New York entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buffalo, New York was able to borrow $110,200 from Valley National Bank. The SBA made the loan possible by guaranteeing $93,670 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL CONTRACTORS SBA Loan Lender VALLEY NATIONAL BANK This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235610 - Roofing, Siding, and Sheet Metal Contractors Loan Approval Date 4/30/2001 Loan Approval Gross Amount $110,200 Loan Approval from the SBA Of the total $110,200 loan amount, the SBA guaranteed $93,670. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business If you need business start up money 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. 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: A Company That Helps Entrepreneurs Where to Get an SBA Loan in North Plainfield, New Jersey
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