New York SBA Loan Issued to Confectionery Manufacturing From Purchased Chocolate Company

Would a New York bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.

Getting a small business loan in Sherburne, New York was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Nbt Bank, National Association. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY MANUFACTURING FROM PURCHASED CHOCOLATE
SHERBURNE, NY 13460

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

311330 - Confectionery Manufacturing from Purchased Chocolate

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$51,000

Loan Approval from the SBA

Of the total $51,000 loan amount, the SBA guaranteed $25,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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 Nbt Bank, National Association 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.

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