New York Small Business Loan Issued to Groceries, General Line Company

Want a New York business loan? This New York entrepreneur got a business loan, provided by a New York bank that works with the SBA to help small business owners.

Getting a small business loan in Rochester, New York was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Canandaigua National Bank & Trust. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
ROCHESTER, NY 14609

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5141 - Groceries, General Line

NAICS Code

422410 - General Line Grocery Wholesalers

Loan Approval Date

5/17/2001

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Canandaigua National Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Canandaigua National Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Related Links:

Small Business Loan

Small Bank Loans in Canandaigua, New York

SBA Lenders in New York