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April 29, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Progressive Cu New York City Business Loans > Eating Places Loan | ||||
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How to Get SBA Money in Brooklyn, New York
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New York Business Loan Issued to Eating Places CompanyLooking to get a New York bank loan? This New York entrepreneur got a bank loan, provided by a New York bank that works with the SBA to help small business owners. This business, based in Brooklyn, 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 Progressive Cu. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PROGRESSIVE CU This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/14/2001 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 9 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money We can help you find the best banks for small businesses in Brooklyn or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Participating Banks in New York City, New York
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