Fort Lee, New Jersey Business Gets SBA-Guaranteed Funding from Manufacturers & Traders Trust

Manufacturers & Traders Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Fort Lee, New Jersey, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Manufacturers & Traders Trust, based in Buffalo, New York.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHING WHOLESALERS
FORT LEE, NJ 07024

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
ONE M & T PLAZA
BUFFALO, NY 14203

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

422320 - Men's and Boys' Clothing and Furnishing Wholesalers

Loan Approval Date

1/24/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Manufacturers & Traders Trust and they will explain how you can get an SBA loan for your company.

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:

Alternative Financing

Where to Get an SBA Loan in Buffalo, New York

New York SBA Bank Lenders