Marine Midland Bank v. Rome Polymer, Inc.

—Order unanimously affirmed without costs. Memorandum: Defendant Rome Polymer, Inc. (Rome), applied to plaintiff for a loan guaranteed by the United States Small Business Administration in the amount of $217,000. Plaintiff agreed to the loan, conditioned upon, inter alia, the pledge of certain collateral held by defendants John Kofskie and Elaine Amidon, and the execution of personal guaranties by Stephen Babinchak and defendants Kofskie, Amidon and James Donovan. Rome exe*968cuted a promissory note in the amount of $217,000, and Kofskie, Amidon and Donovan executed the guaranties. Rome defaulted…