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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Utica, Business Loans > Adirondack Bank Utica Business Loans > Automobile And Motor Vehicle Merchant Wholesalers Loan | ||||
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Adirondack Bank
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Chadwicks, New York Business Gets SBA-Guaranteed Funding from Adirondack BankAdirondack Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Chadwicks, New York was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Adirondack Bank, operating out of Utica, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS SBA Loan Lender ADIRONDACK BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423110 - Automobile and Motor Vehicle Merchant Wholesalers Loan Approval Date 9/14/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 70 employees. The SBA loan documents indicated that the loan would help retain 70 existing jobs. Next Steps for Getting an SBA Loan If you need money to start business in Chadwicks NY, you ought to talk with a local Chadwicks SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chadwicks businesses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Adirondack Bank and they will explain how you can get an SBA loan for your company. 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 Participating Banks in Utica, New York
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