Hamburg, New York Business Gets SBA-Guaranteed Funding from Manufacturers & Traders Trust

An SBA loan from Manufacturers & Traders Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hamburg, New York business owner got a $118,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Hamburg, New York, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
HAMBURG, NY 14219

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$118,000

Loan Approval from the SBA

Of the total $118,000 loan amount, the SBA guaranteed $100,300.

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 2 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $118,000 loan. Remember, things become real when you believe you can achieve them!

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:

Business Line of Credit

Best Amherst, New York Banks for Small Business

Getting an SBA Loan in New York