Raising Money for Masonry and Stone Contractors

Looking for bank loans for masonry and stone contractors? Try the SBA. This $550,000 masonry and stone contractors loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clifton Park, New York was able to borrow $550,000 from Nbt Bank, National Association. The SBA made the loan possible by guaranteeing $412,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY, STONE SETTING, AND OTHER STONE WORK
CLIFTON PARK, NY 12065

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
52 S BROAD ST
NORWICH, NY 13815

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1741 - Masonry, Stone Setting, and Other Stone Work

NAICS Code

235410 - Masonry and Stone Contractors

Loan Approval Date

7/7/2004

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 45 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Getting a Small Business Loan

SBA Approved Banks in Norwich, New York

Browse All Business Loan Sources for New York