Orchard Park, New York Business Gets SBA-Guaranteed Funding from Manufacturers & Traders Trust
Manufacturers & Traders Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orchard Park, New York was able to borrow $800,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $600,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
ORCHARD PARK, NY 14127
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445310 - Beer, Wine, and Liquor Stores
Loan Approval Date
6/5/2002
Loan Approval Gross Amount
$800,000
Loan Approval from the SBA
Of the total $800,000 loan amount, the SBA guaranteed $600,000.
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 28 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
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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