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May 16, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Bath, Business Loans > Five Star Bank Bath Business Loans > Excavation Contractors Loan | ||||
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Get Commercial Loans in Dansville, New York
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Dansville, New York Entrepreneur Gets a Bank LoanWould a New York small business loan help your small business to grow and prosper? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs. Getting a small business loan in Dansville, New York was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Five Star Bank. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION CONTRACTORS SBA Loan Lender FIVE STAR BANK This lender issued this particular commercial 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 235930 - Excavation Contractors Loan Approval Date 5/4/2005 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. 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 only one employee. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 Five Star 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 Bath, New York
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