Plumbing and Heating Equipment and Supplies Wholesalers Commercial Loans

With these commercial loans for plumbing and heating equipment and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This plumbing and heating equipment and supplies wholesalers loan for $422,500 was given to a New York entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Brooklyn (borough Of New York), New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Home Loan Invest Bank F.S.B., based in Warwick, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: PLUMBING AND HEATING EQUIPMENT AND SUPPLIES WHOLESALERS
BROOKLYN (BOROUGH OF NEW YORK), NY 11206

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

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

421720 - Plumbing and Heating Equipment and Supplies Wholesalers

Loan Approval Date

10/9/2002

Loan Approval Gross Amount

$422,500

Loan Approval from the SBA

Of the total $422,500 loan amount, the SBA guaranteed $316,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - Getting Venture Capital

Find an SBA Lender in Warwick, Rhode Island

SBA Rhode Island Banks