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May 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Ithaca, Business Loans > Alternatives Fcu Ithaca Business Loans > Electronic Parts And Equipment Wholesalers Loan | ||||
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Raising Money in Homer, New York With SBA Loans
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Electronic Parts and Equipment Wholesalers Bank LoansLooking for bank loans for electronic parts and equipment wholesalers? The SBA may be the answer. This $150,000 electronic parts and equipment wholesalers loan was issued by a New York bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Alternatives Fcu, out of Ithaca, New York. The loan was granted and they received $150,000 to help grow their Homer, New York business. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT WHOLESALERS SBA Loan Lender ALTERNATIVES FCU This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421690 - Electronic Parts and Equipment Wholesalers Loan Approval Date 3/23/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 72 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Banks for Small Business in Ithaca, New York
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