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May 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Saratoga Springs, Business Loans > The Adirondack Trust Company Saratoga Springs Business Loans > Family Clothing Stores Loan | ||||
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New York Small Business Funding
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Financing for Family Clothing StoresLooking for commercial loans for family clothing stores? Talk to a banker who works with the SBA. This $50,000 family clothing stores loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albany, New York was able to borrow $50,000 from The Adirondack Trust Company. The SBA made the loan possible by guaranteeing $42,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender THE ADIRONDACK TRUST COMPANY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5651 - Family Clothing Stores NAICS Code 448140 - Family Clothing Stores Loan Approval Date 6/21/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are working on finding money to start a business in Albany NY, you ought to talk with a local Albany SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Albany businesses. 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 $50,000 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 Banks in Saratoga Springs, New York
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