Spencerport, New York Business Gets SBA-Guaranteed Funding from Canandaigua National Bank & Trust

Canandaigua National Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Canandaigua National Bank & Trust, out of Canandaigua, New York. The loan was granted and they received $235,000 to help grow their Spencerport, New York business.

SBA Loan Borrower

COMPANY TYPE: HOME CENTERS
SPENCERPORT, NY 14559

SBA Loan Lender

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

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

444110 - Home Centers

Loan Approval Date

4/17/2002

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $176,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Spencerport NY, you ought to talk with a local Spencerport SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Spencerport businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $235,000 loan. Remember, you control your own destiny.

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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New York SBA 7A Lenders