Business Loan from Nbt Bank, National Association Given to Book Stores Company

Nbt Bank, National Association and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Cobleskill, New York was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Nbt Bank, National Association, operating out of Norwich, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
COBLESKILL, NY 12043

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

3/18/2003

Loan Approval Gross Amount

$66,000

Loan Approval from the SBA

Of the total $66,000 loan amount, the SBA guaranteed $56,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Cobleskill NY, you ought to talk with a local Cobleskill SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cobleskill businesses.

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:

How Equity Dilution Works

Small Business Banks in Norwich, New York

Getting an SBA Loan in New York