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May 13, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Bath, Business Loans > Five Star Bank Bath Business Loans > Marinas Loan | ||||
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Penn Yan, New York Bank for SBA Loans
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Get an SBA Loan for MarinasLooking for bank loans for marinas? Try the SBA. This $270,000 marinas loan was issued by a New York bank. Getting a small business loan in Penn Yan, New York was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Five Star Bank, operating out of Bath, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: MARINAS SBA Loan Lender FIVE STAR BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713930 - Marinas Loan Approval Date 2/27/2002 Loan Approval Gross Amount $270,000 Loan Approval from the SBA Of the total $270,000 loan amount, the SBA guaranteed $202,500. 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 5 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Five Star Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in Bath, New York
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