Specialty Trade Contractors Commercial Loans

With these commercial loans for specialty trade contractors, the SBA guarantees the lender that the loan will be repaid. This specialty trade contractors loan for $100,000 was given to a New York entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Horseheads, New York was able to borrow $100,000 from Chemung Canal Trust Company. The SBA made the loan possible by guaranteeing $85,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
HORSEHEADS, NY 14845

SBA Loan Lender

CHEMUNG CANAL TRUST COMPANY
ONE CHEMUNG CANAL PLZ
ELMIRA, NY 14902

This loan for a small business 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

238990 - Specialty Trade Contractors

Loan Approval Date

2/2/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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