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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Great Neck, Business Loans > Community National Bank Great Neck Business Loans > Office Administrative Services Loan | ||||
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Best Banks for Baldwin, New York Small Businesses
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Where to Get Capital for Office Administrative ServicesWith these SBA loans for office administrative services, the SBA guarantees the lender that the loan will be repaid. This office administrative services loan for $700,000 was given to a New York entrepreneur in 2006. Getting a small business loan in Baldwin, New York was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community National Bank, operating out of Great Neck, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: OFFICE ADMINISTRATIVE SERVICES SBA Loan Lender COMMUNITY NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561110 - Office Administrative Services Loan Approval Date 3/20/2006 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Bank Loans in Great Neck, New York
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