Durable Goods Merchant Wholesalers Small Business Loans

With these small business loans for durable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This durable goods merchant wholesalers loan for $250,000 was given to a New York entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Bank Of Castile, out of Castile, New York. The loan was granted and they received $250,000 to help grow their East Rochester, New York business.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
EAST ROCHESTER, NY 14445

SBA Loan Lender

THE BANK OF CASTILE
50 N MAIN ST
CASTILE, NY 14427

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

423990 - Durable Goods Merchant Wholesalers

Loan Approval Date

9/2/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, anyone can do it... so why not you?

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.

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