SBA Loan from First Niagara Bank Helps Beauty Shops Company

First Niagara Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.

Getting a small business loan in West Seneca, New York was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank, operating out of Buffalo, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
WEST SENECA, NY 14224

SBA Loan Lender

FIRST NIAGARA BANK
2141 ELMWOOD AVE
BUFFALO, NY 14207

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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