Mechanicville, New York Business Gets SBA-Guaranteed Funding from First Niagara Bank

An SBA loan from First Niagara Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mechanicville, New York business owner got a $1,000,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Niagara Bank, out of Albany, New York. The loan was granted and they received $1,000,000 to help grow their Mechanicville, New York business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PRINTING
MECHANICVILLE, NY 12118

SBA Loan Lender

FIRST NIAGARA BANK
1400 WASHINGTON AVE
ALBANY, NY 12222

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2759 - Commercial Printing

NAICS Code

323119 - Commercial Printing

Loan Approval Date

4/5/2002

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 23 employees. The SBA loan documents did not indicate that the small business planned 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?

If you are wondering how to raise money for a business in Mechanicville NY, you ought to talk with a local Mechanicville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mechanicville businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,000,000 loan. Remember, if it to be, it is up to me!

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:

Equity Financing

SBA Approved Banks in Albany, New York

New York SBA 7A Banks