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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Warsaw, Business Loans > Five Star Bank Warsaw Business Loans > Golf Courses And Country Clubs Loan | ||||
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SBA Lender Arcade New York
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Financing for Golf Courses and Country ClubsLooking for commercial loans for golf courses and country clubs? The SBA may be the answer. This $250,000 golf courses and country clubs loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arcade, New York was able to borrow $250,000 from Five Star Bank. The SBA made the loan possible by guaranteeing $187,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GOLF COURSES AND COUNTRY CLUBS SBA Loan Lender FIVE STAR BANK 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 loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713910 - Golf Courses and Country Clubs Loan Approval Date 8/28/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Five Star Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Five Star Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Warsaw, New York
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