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April 27, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Construction And Mining Machinery And Equipment Merchant Loan | ||||
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New York Bank SBA Loans
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New York City, New York Bank Gives SBA Loan to Construction And Mining Machinery And Equipment Merchant CompanyA New York City, New York small business loan can be yours. Learn how a company got a $350,000 business loan from this New York bank. This loan to a local firm is a good example of an SBA loan. Banco Popular North America made the loan and the SBA guaranteed a portion of the loan. Many other Kentucky entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT SBA Loan Lender BANCO POPULAR NORTH AMERICA The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 423810 - Construction and Mining Machinery and Equipment Merchant Loan Approval Date 9/30/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 14 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 14 existing jobs. Next Steps for Getting an SBA Loan Remember, you 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, feel the fear, and do it anyway. 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: Accountant's Role in Securing Financing Who Lends Money to Small Businesses in New York City, New York
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