Liverpool, New York Business Gets SBA-Guaranteed Funding from Alliance Bank

An SBA loan from Alliance Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Liverpool, New York business owner got a $286,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Liverpool, New York, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Alliance Bank, based in Oswego, New York.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
LIVERPOOL, NY 13090

SBA Loan Lender

ALLIANCE BANK
300 STATE RTE 104 EAST
OSWEGO, NY 13126

This business loan 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.

SIC Code

4212 - Local Trucking Without Storage

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

4/14/2005

Loan Approval Gross Amount

$286,000

Loan Approval from the SBA

Of the total $286,000 loan amount, the SBA guaranteed $214,500.

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 27 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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