Wrecking and Demolition Contractors Commercial Loans

Looking for commercial loans for wrecking and demolition contractors? An SBA loan may be just what you've been looking for. This $75,000 wrecking and demolition contractors loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Niagara Falls, New York was able to borrow $75,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $63,750 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: WRECKING AND DEMOLITION WORK
NIAGARA FALLS, NY 14303

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

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

1795 - Wrecking and Demolition Work

NAICS Code

235940 - Wrecking and Demolition Contractors

Loan Approval Date

2/28/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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