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May 3, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Flatbush Fed. S & L Association New York City Business Loans > Hardware Stores Loan | ||||
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SBA Lenders New York
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New York City, New York Lender Lends Money to Hardware Stores CompanyGet to know New York City, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Flatbush Fed. S & L Association is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Brooklyn, New York starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Flatbush Fed. S & L Association. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender FLATBUSH FED. S & L ASSOCIATION This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444130 - Hardware Stores Loan Approval Date 2/27/2004 Loan Approval Gross Amount $126,000 Loan Approval from the SBA Of the total $126,000 loan amount, the SBA guaranteed $107,100. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $126,000. How would you spend $126,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best New York City, New York Banks for Small Business
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