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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Warsaw, Business Loans > Five Star Bank Warsaw Business Loans > Performing Arts Companies Loan | ||||
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Five Star Bank Arkport
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Five Star Bank SBA Loan to Performing Arts Companies CompanyFive Star Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Five Star Bank, out of Warsaw, New York. The loan was granted and they received $11,100 to help grow their Arkport, New York business. SBA Loan Borrower COMPANY TYPE: PERFORMING ARTS COMPANIES SBA Loan Lender FIVE STAR BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 711190 - Performing Arts Companies Loan Approval Date 12/21/2001 Loan Approval Gross Amount $11,100 Loan Approval from the SBA Of the total $11,100 loan amount, the SBA guaranteed $5,550. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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. Related Links: Role of Business Plan When Raising Money
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