Entrepreneur Works With Buffalo, New York Bank to Get an SBA Loan

Want to talk with a Buffalo, New York bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Buffalo 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 Philadelphia, Pennsylvania. They received an SBA loan for $600,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
Philadelphia, PA 19146

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
ONE M & T PLAZA
BUFFALO, NY 14203

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

6/9/2006

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 500 employees. The SBA loan documents indicated that the loan would help retain 500 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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