Derby, New York Bank Gives SBA Loan to Electrical Contractors Company

Get to know Derby, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Evans National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Orchard Park, New York starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Evans National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
ORCHARD PARK, NY 14127

SBA Loan Lender

EVANS NATIONAL BANK
6840 ERIE RD
DERBY, NY 14047

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

7/16/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 10 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.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Orchard Park NY, you ought to talk with a local Orchard Park SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Orchard Park businesses.

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 Evans National Bank 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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