Norwich, New York Lender Lends Money to Lawn And Garden Equipment Company

Get business loans from a Norwich, New York bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Nbt Bank, National Association is a Norwich, New York small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New York company.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN EQUIPMENT
RICHFIELD SPRINGS, NY 13439

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
52 S BROAD ST
NORWICH, NY 13815

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3524 - Lawn and Garden Equipment

NAICS Code

333112 - Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$91,500

Loan Approval from the SBA

Of the total $91,500 loan amount, the SBA guaranteed $77,775.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours 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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