Getting an SBA Loan for Grocery and Related Products Merchant Wholesalers
With these SBA loans for grocery and related products merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products merchant wholesalers loan for $85,000 was given to a New York entrepreneur in 2005.
This business knew how to go about getting a business bank loan. Based in Yonkers, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Hsbc Bank Usa, based in Syracuse, New York.
SBA Loan Borrower
COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
YONKERS, NY 10701
SBA Loan Lender
HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202
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
424490 - Grocery and Related Products Merchant Wholesalers
Loan Approval Date
1/24/2005
Loan Approval Gross Amount
$85,000
Loan Approval from the SBA
Of the total $85,000 loan amount, the SBA guaranteed $42,500.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you have been wondering how do i get money to start a business in Yonkers NY, you ought to talk with a local Yonkers SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Yonkers businesses.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Understanding Dilution
SBA Participating Banks in Syracuse, New York
SBA New York Banks