Brooklyn (borough Of New York), New York Business Gets SBA-Guaranteed Funding from Loan Source Incorporated

Loan Source Incorporated is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Loan Source Incorporated, out of New York, New York. The loan was granted and they received $435,000 to help grow their Brooklyn (borough Of New York), New York business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
BROOKLYN (BOROUGH OF NEW YORK), NY 11219

SBA Loan Lender

LOAN SOURCE INCORPORATED
347 5TH AVE., SUITE 301
NEW YORK, NY 10016

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

2/21/2003

Loan Approval Gross Amount

$435,000

Loan Approval from the SBA

Of the total $435,000 loan amount, the SBA guaranteed $326,250.

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 indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Brooklyn (borough Of New York) NY, you ought to talk with a local Brooklyn (borough Of New York) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brooklyn (borough Of New York) businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small 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.

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