Medicinal and Botanical Manufacturing Loans

With these loans for medicinal and botanical manufacturing, the SBA guarantees the lender that the loan will be repaid. This medicinal and botanical manufacturing loan for $60,000 was given to a New York entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Ithaca, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Alternatives Fcu, based in Ithaca, New York.

SBA Loan Borrower

COMPANY TYPE: MEDICINAL AND BOTANICAL MANUFACTURING
ITHACA, NY 14850

SBA Loan Lender

ALTERNATIVES FCU
125 N FULTON ST
ITHACA, NY 14850

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

325411 - Medicinal and Botanical Manufacturing

Loan Approval Date

9/23/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Alternatives Fcu 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.

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