Geneva, New York Bank Gives SBA Loan to Prepared Feeds & Feed Ingredients For Animals & Fo Company

Get to know Geneva, New York banks that specialize in small business loans and know how to work with entrepreneurs. Five Star Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Interlaken, New York starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Five Star Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PREPARED FEEDS & FEED INGREDIENTS FOR ANIMALS & FO
INTERLAKEN, NY 14847

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2048 - Prepared Feeds & Feed Ingredients for Animals & Fo

NAICS Code

311119 - Animal Food Manufacturing

Loan Approval Date

4/1/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 18 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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