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May 17, 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 > Retail Stores Loan | ||||
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New York Small Business Funding
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SBA Loans for Store RetailersLooking for SBA loans for store retailers? Try the SBA. This $55,000 store retailers loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Poughkeepsie, New York was able to borrow $55,000 from New York Business Devel Corp. The SBA made the loan possible by guaranteeing $44,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender NEW YORK BUSINESS DEVEL CORP This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453998 - Store Retailers Loan Approval Date 11/3/2000 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $44,000. 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. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. We can help you find the best banks for small businesses in Poughkeepsie or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks in Albany, New York
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