How to Get a Loan for Linen Supply

Looking for commercial loans for linen supply? Talk to a banker who works with the SBA. This $84,400 linen supply loan was issued by an Ohio bank.

Getting a small business loan in Schenectady, New York was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Keybank National Association, operating out of Cleveland, Ohio. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: LINEN SUPPLY
SCHENECTADY, NY 12305

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812331 - Linen Supply

Loan Approval Date

5/26/2005

Loan Approval Gross Amount

$84,400

Loan Approval from the SBA

Of the total $84,400 loan amount, the SBA guaranteed $63,300.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

If you are raising money in Schenectady NY, you ought to talk with a local Schenectady SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Schenectady businesses.

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.

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