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May 9, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Syracuse, Business Loans > Hsbc Bank Usa Syracuse Business Loans > Rubber Product Manufacturing Loan | ||||
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Examples of Lockport SBA Loans
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Rubber Product Manufacturing Business LoansWith these business loans for rubber product manufacturing, the SBA guarantees the lender that the loan will be repaid. This rubber product manufacturing loan for $250,000 was given to a New York entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lockport, New York was able to borrow $250,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $125,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: RUBBER PRODUCT MANUFACTURING SBA Loan Lender HSBC BANK USA The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 326299 - Rubber Product Manufacturing Loan Approval Date 11/21/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs. Getting an SBA Loan For Your Business 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hsbc Bank Usa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hsbc Bank Usa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Banks in Syracuse, New York
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