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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > Sawmills And Planing Mills, General Loan | ||||
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New York SBA Banks
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Amherst, New York Bank Lends Money to Sawmills And Planing Mills, General Company in Nichols, New YorkThinking about meeting with an Amherst, New York bank about a small business loan? Here's one New York business loan, issued by an Amherst 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 Nichols, New York. They received an SBA loan for $50,000. Way to go! SBA Loan Borrower COMPANY TYPE: SAWMILLS AND PLANING MILLS, GENERAL SBA Loan Lender MANUFACTURERS & TRADERS TRUST 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 2421 - Sawmills and Planing Mills, General NAICS Code 321912 - Cut Stock, Resawing Lumber, and Planning Loan Approval Date 2/5/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Realistic Debt Financing Options Best Banks for Small Business in Amherst, New York
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