Raising Money for General Merchandise Stores

Looking for bank loans for general merchandise stores? Talk to a banker who works with the SBA. This $80,000 general merchandise stores loan was issued by a New York bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Carver Federal Savings Bank, out of New York City, New York. The loan was granted and they received $80,000 to help grow their Jamaica, New York business.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
JAMAICA, NY 11935

SBA Loan Lender

CARVER FEDERAL SAVINGS BANK
111 LIVINGSTON ST
NEW YORK CITY, NY 11201

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

4/18/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Jamaica NY, you ought to talk with a local Jamaica SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jamaica businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Incubators

SBA 7A Banks for New York City, New York Loans

Getting an SBA Loan in New York