Entrepreneur Works With New York, New York Bank to Get an SBA Loan
Thinking about meeting with a New York, New York bank about a small business loan? Here's one New York business loan, issued by a New York bank, that was approved by the SBA.
Applying for an SBA loan with Newtek Small Business Finance Inc. worked out well for our friends at one local business in Carmel, New York. They received an SBA loan for $480,000. Sweet!
SBA Loan Borrower
COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
CARMEL, NY 10512
SBA Loan Lender
NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018
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.
NAICS Code
424490 - Grocery and Related Products Merchant Wholesalers
Loan Approval Date
10/28/2005
Loan Approval Gross Amount
$480,000
Loan Approval from the SBA
Of the total $480,000 loan amount, the SBA guaranteed $360,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
This SBA loan was for $480,000. How would you spend $480,000 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:
Obtaining Funding - How to Borrow Money
Small Business Banks in New York, New York
SBA Participating Banks in New York