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May 16, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Elmira, Business Loans > Community Bank Elmira Business Loans > Drinking Places Loan | ||||
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Elmira, New York SBA Banks
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Entrepreneur Works With Elmira, New York Bank to Get an SBA LoanWant to talk with an Elmira, New York bank about an SBA loan? Here's one New York business loan, issued by an Elmira bank, that was approved by the SBA. Applying for an SBA loan with Community Bank worked out well for our friends at one local business in Elmira Heights, New York. They received an SBA loan for $57,000. Sweet! SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5813 - Drinking Places NAICS Code 722410 - Drinking Places Loan Approval Date 3/3/2004 Loan Approval Gross Amount $57,000 Loan Approval from the SBA Of the total $57,000 loan amount, the SBA guaranteed $48,450. 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 4 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This SBA loan was for $57,000. How would you spend $57,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Banks in Elmira, New York
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