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April 28, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Solid Waste Collection Loan | ||||
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SBA 7A Banks That Lend to Bronx (borough Of New York) Businesses
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Bronx (borough Of New York), New York Entrepreneur Gets a Small Business LoanNew YorkBank loans are available to New York firms through the SBA. In this case, an Utah bank provides the loan. By giving the right information to Merrill Lynch Bank Usa, this Bronx (borough Of New York), New York business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SOLID WASTE COLLECTION SBA Loan Lender MERRILL LYNCH BANK USA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 562111 - Solid Waste Collection Loan Approval Date 1/10/2003 Loan Approval Gross Amount $328,000 Loan Approval from the SBA Of the total $328,000 loan amount, the SBA guaranteed $246,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs. 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. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Merrill Lynch Bank Usa so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Approved Banks in Salt Lake City, Utah
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