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May 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Hsbc Bank Usa Buffalo Business Loans > Used Car Dealers Loan | ||||
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Endicott, New York Bank for SBA Loans
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Hsbc Bank Usa Gives Small Business Loan to Used Car Dealers CompanyNew YorkSBA loans are available to New York entrepreneurs through the SBA. In this case, a New York bank provides the loan. You can learn something about getting a small business loan in Endicott, New York by studying this loan to a local business, made back in 2005. Banks like Hsbc Bank Usa may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender HSBC BANK USA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441120 - Used Car Dealers Loan Approval Date 11/21/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 loan application indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 $10,000 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: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in Buffalo, New York
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