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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Saratoga Springs, Business Loans > The Adirondack Trust Company Saratoga Springs Business Loans > General Contracting For Residential Buildings Loan | ||||
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New York Small Business Funding
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SBA Loans for Commercial and Institutional Building ConstructionLooking for SBA loans for commercial and institutional building construction? Talk to a banker who works with the SBA. This $25,000 commercial and institutional building construction loan was issued by a New York bank. Getting a small business loan in Greenwich, New York was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Adirondack Trust Company, operating out of Saratoga Springs, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR RESIDENTIAL BUILDINGS SBA Loan Lender THE ADIRONDACK TRUST COMPANY 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 1522 - General Contracting for Residential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 7/2/2002 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Adirondack Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Adirondack Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money SBA Approved Banks in Saratoga Springs, New York
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