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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Westmoreland, Business Loans > The National Bank Of Vernon Westmoreland Business Loans > Lawn And Garden Services Loan | ||||
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We Needed an SBA 7A Loan in Verona, New York and We Got One!
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Landscaping Services Commercial LoansWith these commercial loans for landscaping services, the SBA guarantees the lender that the loan will be repaid. This landscaping services loan for $103,000 was given to a New York entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Verona, New York was able to borrow $103,000 from The National Bank Of Vernon. The SBA made the loan possible by guaranteeing $87,550 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN SERVICES SBA Loan Lender THE NATIONAL BANK OF VERNON This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0782 - Lawn and Garden Services NAICS Code 561730 - Landscaping Services Loan Approval Date 5/12/2004 Loan Approval Gross Amount $103,000 Loan Approval from the SBA Of the total $103,000 loan amount, the SBA guaranteed $87,550. 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. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 $103,000 loan. Remember, if it to be, it is up to me! 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: How Much Venture Capital Is There? Good Banks for Small Business in Westmoreland, New York Find an SBA Lender in New York
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