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December 20, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Lockport, Business Loans > First Niagara Bank Lockport Business Loans > Office Equipment Merchant Wholesalers Loan | ||||
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Lockport Bank Loan
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Lockport, New York Bank Gives SBA Loan to Office Equipment Merchant Wholesalers CompanyWant to talk with a Lockport, New York bank about an SBA loan? Here's one New York business loan, issued by a Lockport bank, that was approved by the SBA. Applying for an SBA loan with First Niagara Bank worked out well for our friends at one local company in West Seneca, New York. The business was able to get an SBA loan for $350,000. Way to go! SBA Loan Borrower COMPANY TYPE: OFFICE EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender FIRST NIAGARA BANK 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 423420 - Office Equipment Merchant Wholesalers Loan Approval Date 12/16/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $350,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Lenders in Lockport, New York
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