Johnstown, New York Business Gets SBA-Guaranteed Funding from Keybank National Association

An SBA loan from Keybank National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Johnstown, New York business owner got a $517,500 loan.

This business knew how to go about getting a business bank loan. Based in Johnstown, New York, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Keybank National Association, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: CHEESE MANUFACTURING
JOHNSTOWN, NY 12095

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311513 - Cheese Manufacturing

Loan Approval Date

7/22/2005

Loan Approval Gross Amount

$517,500

Loan Approval from the SBA

Of the total $517,500 loan amount, the SBA guaranteed $388,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 35 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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