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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Albany, Business Loans > New York Business Devel Corp Albany Business Loans > Veterinary Services For Animal Specialties Loan | ||||
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New York SBA Lenders
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Albany, New York Bank Gives SBA Loan to Veterinary Services For Animal Specialties CompanyWant to talk with an Albany, New York bank about a small business loan? Here's one New York business loan, issued by an Albany bank, that was approved by the SBA. Applying for an SBA loan with New York Business Devel Corp worked out well for our friends at one local firm in Ontario, New York. They got an SBA loan for $450,000. Way to go! SBA Loan Borrower COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES SBA Loan Lender NEW YORK BUSINESS DEVEL CORP This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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 0742 - Veterinary Services for Animal Specialties NAICS Code 541940 - Veterinary Services Loan Approval Date 8/11/2000 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source 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: SBA Approved Banks in Albany, New York
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