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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Cortland, Business Loans > Alliance Bank Cortland Business Loans > Motorcycle Dealers Loan | ||||
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New York SBA Lenders
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Cortland, New York Bank Lends Money to Motorcycle Dealers Company in Cortland, New YorkA Cortland, New York small business loan can be yours. Learn how a company got a $243,500 business loan from this New York bank. This loan to an entrepreneur is a good example of an SBA loan. Alliance Bank made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE DEALERS SBA Loan Lender ALLIANCE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5571 - Motorcycle Dealers NAICS Code 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 9/27/2000 Loan Approval Gross Amount $243,500 Loan Approval from the SBA Of the total $243,500 loan amount, the SBA guaranteed $182,625. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Alliance Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Role of Business Plan When Raising Money Find an SBA Lender in Cortland, New York
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