Rochester, New York Business Gets SBA-Guaranteed Funding from Canandaigua National Bank & Trust

An SBA loan from Canandaigua National Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rochester, New York business owner got a $821,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Rochester, New York, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Canandaigua National Bank & Trust, based in Canandaigua, New York.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
ROCHESTER, NY 14623

SBA Loan Lender

CANANDAIGUA NATIONAL BANK & TRUST
72 S MAIN ST
CANANDAIGUA, NY 14424

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

8/6/2004

Loan Approval Gross Amount

$821,000

Loan Approval from the SBA

Of the total $821,000 loan amount, the SBA guaranteed $615,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower 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) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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