SBA Loan from Glens Falls National Bank & Trust Helps Refuse Systems Company

Glens Falls National Bank & Trust 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.

This growing company knew how to go about getting a business bank loan. Based in Fort Edward, New York, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Glens Falls National Bank & Trust, based in Glens Falls, New York.

SBA Loan Borrower

COMPANY TYPE: REFUSE SYSTEMS
FORT EDWARD, NY 12828

SBA Loan Lender

GLENS FALLS NATIONAL BANK & TRUST
250 GLEN ST
GLENS FALLS, NY 12801

This bank 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.

SIC Code

4953 - Refuse Systems

NAICS Code

562920 - Materials Recovery Facilities

Loan Approval Date

11/13/2002

Loan Approval Gross Amount

$96,775

Loan Approval from the SBA

Of the total $96,775 loan amount, the SBA guaranteed $72,581.

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 3 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Glens Falls National Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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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