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December 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Buffalo, Business Loans > Manufacturers & Traders Trust Buffalo Business Loans > Full-Service Restaurants Loan | ||||
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New York Bank SBA Loans
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Entrepreneur Works With Buffalo, New York Bank to Get an SBA LoanThinking about meeting with a Buffalo, New York bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Buffalo bank, that was approved by the SBA. Applying for an SBA loan with Manufacturers & Traders Trust worked out well for our friends at one local company in Lock Haven, Pennsylvania. They got an SBA loan for $160,000. Sweet! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 722110 - Full-Service Restaurants Loan Approval Date 8/3/2005 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 12 existing jobs. 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. While you may be able to find business people willing to loan money, 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. Related Links: Best Banks for Small Business in Buffalo, New York
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