New York Entrepreneur Secures Financing to Buy Wild Birds Unlimited Franchise

Need a loan to invest in a Wild Birds Unlimited franchise? Chemung Canal Trust Company has a history of making these loans and they are guaranteed by the SBA.

Wild Birds Unlimited franchise loans are available to Corning, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Chemung Canal Trust Company, based in Elmira, New York, issued an SBA franchise loan for a Wild Birds Unlimited franchise in 2001. We've got all the details on this New York small business loan.

SBA Loan Borrower

WILD BIRDS UNLIMITED OF CORNIN
CORNING, NY 14830

SBA Loan Lender

CHEMUNG CANAL TRUST COMPANY
ONE CHEMUNG CANAL PLZ
ELMIRA, NY 14902

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

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

8/9/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wild Birds Unlimited franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Wild Birds Unlimited, Inc.

The Friends and Family Network

Good Banks for Small Business in Elmira, New York

Getting an SBA Loan in New York