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

Want to talk with a Pittsford, New York bank about a small business loan? Here's one New York business loan, issued by a Pittsford bank, that was approved by the SBA.

Applying for an SBA loan with Canandaigua National Bank & Trust worked out well for our friends at one local firm in Rochester, New York. The business was able to get an SBA loan for $120,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
ROCHESTER, NY 14626

SBA Loan Lender

CANANDAIGUA NATIONAL BANK & TRUST
18 STATE ST
PITTSFORD, NY 14534

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/12/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Canandaigua National Bank & 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.

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