Manufacturers & Traders Trust Gives Bank Loan to Special Trade Contractors Company

New YorkSBA loans are available to New York entrepreneurs through the SBA. In this case, a New York bank provides the loan.

You can learn something about getting a small business loan in Rochester, New York by studying this loan to a local business, made back in 2001. Banks like Manufacturers & Traders Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
ROCHESTER, NY 14606

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

8/27/2001

Loan Approval Gross Amount

$355,000

Loan Approval from the SBA

Of the total $355,000 loan amount, the SBA guaranteed $177,500.

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 15 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Manufacturers & Traders Trust and they will explain how you can get an SBA loan for your company.

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:

The Art of Bootstrapping

SBA Banks in Amherst, New York

New York SBA Bank Lenders