Wyoming, New York Business Gets SBA-Guaranteed Funding from Five Star Bank
Five Star Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wyoming, New York was able to borrow $36,000 from Five Star Bank. The SBA made the loan possible by guaranteeing $18,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIAL DIE AND TOOL, DIE SET, JIG, AND FIXTURE MANUFACTURING
WYOMING, NY 14591
SBA Loan Lender
FIVE STAR BANK
129 N UNION ST
OLEAN, NY 14760
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing
Loan Approval Date
12/28/2005
Loan Approval Gross Amount
$36,000
Loan Approval from the SBA
Of the total $36,000 loan amount, the SBA guaranteed $18,000.
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 5 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
If you have been wondering how do i get money to start a business in Wyoming NY, you ought to talk with a local Wyoming SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wyoming businesses.
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 $36,000 loan. Remember, fight for what you want, and it will be yours!
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:
Borrowing Money from Friends and Family
SBA 7A Banks for Olean, New York Loans
Getting a Business Loan in New York