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May 9, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Perry, Business Loans > The Bank Of Castile Perry Business Loans > Retail Stores Loan | ||||
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I Need an SBA Loan in Dalton, New York
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Getting an SBA Loan for Store RetailersLooking for business loans for store retailers? An SBA loan may be just what you've been looking for. This $38,000 store retailers loan was issued by a New York bank. This business knew how to go about getting a business bank loan. Based in Dalton, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was The Bank Of Castile, based in Perry, New York. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender THE BANK OF CASTILE This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453998 - Store Retailers Loan Approval Date 5/29/2002 Loan Approval Gross Amount $38,000 Loan Approval from the SBA Of the total $38,000 loan amount, the SBA guaranteed $32,300. 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 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Castile had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Castile made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Decide How Much to Raise SBA 7A Banks for Perry, New York Loans
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