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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Ithaca, Business Loans > Tompkins Trust Company Ithaca Business Loans > Musical Instrument Stores Loan | ||||
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Tompkins Trust Company
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Ithaca, New York Business Gets SBA-Guaranteed Funding from Tompkins Trust CompanyTompkins Trust Company has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Ithaca, New York, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Tompkins Trust Company, based in Ithaca, New York. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT STORES SBA Loan Lender TOMPKINS TRUST COMPANY This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5736 - Musical Instrument Stores NAICS Code 451140 - Musical Instrument and Supplies Stores Loan Approval Date 5/31/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Tompkins Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Ithaca, New York
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