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May 17, 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 > Coin-Operated Amusement Devices Loan | ||||
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Who Lends Money to Attica Small Business Owners
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New York Business Loan Issued to Coin-Operated Amusement Devices CompanyBusiness loans in New York are are few and far betweeen 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 Attica, 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 Five Star Bank. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES SBA Loan Lender FIVE STAR BANK 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 7993 - Coin-Operated Amusement Devices NAICS Code 713990 - Amusement and Recreation Industries Loan Approval Date 4/17/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 5 employees. The loan application did not indicate that the SBA funding recipient planned 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? 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Five Star Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Five Star Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Warsaw, New York Browse All Business Loan Sources for New York
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