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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Manufacturers & Traders Trust Buffalo Business Loans > Store Retailers Loan | ||||
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Raising Money in Springville, New York With SBA Loans
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Get an SBA Loan for Store RetailersWith these bank loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $50,000 was given to a New York entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springville, New York was able to borrow $50,000 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $25,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender MANUFACTURERS & TRADERS TRUST 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 453998 - Store Retailers Loan Approval Date 3/7/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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 $50,000 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. Related Links: Where to Get an SBA Loan in Buffalo, New York
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