Five Star Bank Gives Small Business Loan to Jewelry Manufacturing Company

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

Getting a small business loan in Allegany, New York was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Five Star Bank. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY MANUFACTURING
ALLEGANY, NY 14706

SBA Loan Lender

FIVE STAR BANK
129 N UNION ST
OLEAN, NY 14760

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339911 - Jewelry Manufacturing

Loan Approval Date

1/25/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 12 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Five Star Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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