Borrow Money to Buy a Certa Propainters Franchise

Need money to buy a Certa Propainters franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Rosedale, New York needed money to invest in a Certa Propainters franchise back in 2004. Manufacturers & Traders Trust issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

CERTA PRO PAINTERS (HGT, INC)
ROSEDALE, NY 11422

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves 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.

NAICS Code

235210 - Painting and Wall Covering

Loan Approval Date

7/13/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Certa Propainters franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

CertaPro Painters

Getting a Small Business Loan

SBA 7A Banks in Amherst, New York

Getting an SBA Loan in New York