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April 27, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Electronic Shopping Loan | ||||
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Getting a Business Loan in Brooklyn, New York
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Local Business Gets a New York SBA LoanNew YorkBusiness loans are available to New York business owners through the SBA. In this case, a California bank provides the loan. This small 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 Borrego Springs Bank. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC SHOPPING SBA Loan Lender BORREGO SPRINGS BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454111 - Electronic Shopping Loan Approval Date 2/21/2008 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 - How to Borrow Money Banks in Borrego Springs, California
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