Yorkville, New York Entrepreneur Gets a Business Loan

Business loans in New York are hard to find these days. We take a look at one New York business loan, provided by a New York bank, that was approved by the SBA.

This small business, based in Yorkville, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Niagara Bank. We've got the inside scoop on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILES AND OTHER MOTOR VEHICLES
YORKVILLE, NY 13495

SBA Loan Lender

FIRST NIAGARA BANK
6950 S TRANSIT RD
LOCKPORT, NY 14094

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5012 - Automobiles and Other Motor Vehicles

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

12/17/2003

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $300,000. How would you spend $300,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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