How to Get a Loan for Store Retailers

With these business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $157,300 was given to a New York entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Manufacturers & Traders Trust, out of Amherst, New York. The loan was granted and they received $157,300 to help grow their Endicott, New York business.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
ENDICOTT, NY 13760

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

9/5/2002

Loan Approval Gross Amount

$157,300

Loan Approval from the SBA

Of the total $157,300 loan amount, the SBA guaranteed $117,975.

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 19 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Bank Credit Lines

SBA 7A Banks in Amherst, New York

Getting an SBA Loan in New York