Business Loan from Watertown Savings Bank Given to Retail Stores Company

Watertown Savings Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Watertown Savings Bank, out of Watertown, New York. The loan was granted and they received $372,000 to help grow their Watertown, New York business.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
WATERTOWN, NY 13601

SBA Loan Lender

WATERTOWN SAVINGS BANK
111 CLINTON ST
WATERTOWN, NY 13601

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 SBA bank loans to to our country's hard-working small business owners.

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

3/9/2006

Loan Approval Gross Amount

$372,000

Loan Approval from the SBA

Of the total $372,000 loan amount, the SBA guaranteed $279,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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