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May 13, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Florists Loan | ||||
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Small Business Banks That Lend to New York Businesses
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Local Business Gets a New York SBA LoanWould a New York business loan help your company expand? If so, you may want to talk with this Utah bank, which offers SBA loans to New York entrepreneurs. Getting a small business loan in Brooklyn (borough Of New York), New York was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender MERRILL LYNCH BANK USA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 2/29/2000 Loan Approval Gross Amount $104,000 Loan Approval from the SBA Of the total $104,000 loan amount, the SBA guaranteed $78,000. 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 3 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Merrill Lynch Bank Usa and they will explain how you can get an SBA loan for your company. 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: Realistic Debt Financing Options
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