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May 16, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Hotels And Motels Loan | ||||
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New York SBA 7A Lenders
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New York, New York Bank Gives SBA Loan to Hotels And Motels CompanyThinking about meeting with a New York, New York bank about an SBA loan? Here's one Florida business loan, issued by a New York bank, that was approved by the SBA. Applying for an SBA loan with Newtek Small Business Finance Inc. worked out well for our friends at one local firm in Kissimmee, Florida. The business was able to get an SBA loan for $656,000. Awesome! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/6/2000 Loan Approval Gross Amount $656,000 Loan Approval from the SBA Of the total $656,000 loan amount, the SBA guaranteed $492,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must 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. 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: Small Bank Loans in New York, New York
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