Norwich, New York Bank Gives SBA Loan to Pens, Mechanical Pencils, And Parts Company

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

Applying for an SBA loan with Nbt Bank, National Association worked out well for our friends at one local company in Rome, New York. The business was able to get an SBA loan for $128,000. Great job!

SBA Loan Borrower

COMPANY TYPE: PENS, MECHANICAL PENCILS, AND PARTS
ROME, NY 13440

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3951 - Pens, Mechanical Pencils, and Parts

NAICS Code

339941 - Pen and Mechanical Pencil Manufacturing

Loan Approval Date

9/15/2000

Loan Approval Gross Amount

$128,000

Loan Approval from the SBA

Of the total $128,000 loan amount, the SBA guaranteed $96,000.

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 4 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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