Nbt Bank, National Association SBA Loan to Repair Shops And Related Services Company
Want a New York small business loan? Here's one New York business loan that was approved by the SBA.
This local small business knew how to go about getting a business bank loan. Based in Menands, New York, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Nbt Bank, National Association, based in Norwich, New York.
SBA Loan Borrower
COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
MENANDS, NY 12204
SBA Loan Lender
NBT BANK, NATIONAL ASSOCIATION
52 S BROAD ST
NORWICH, NY 13815
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7699 - Repair Shops and Related Services
Loan Approval Date
9/6/2000
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $40,000.
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. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
We can help you find the best banks for small businesses in Menands or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
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Banks in Norwich, New York
Where to Get an SBA Loan New York