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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Medical, Dental, And Hospital Equipment And Supplies Wholesalers Loan | ||||
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Banks for Long Island City Small Business Owners
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Long Island City, New York Entrepreneur Gets a Business LoanNew YorkBusiness loans are available to New York business owners through the SBA. In this case, a New York bank provides the loan. Getting a small business loan in Long Island City, New York was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender BANCO POPULAR NORTH AMERICA This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421450 - Medical, Dental, and Hospital Equipment and Supplies Wholesalers Loan Approval Date 5/3/2002 Loan Approval Gross Amount $292,500 Loan Approval from the SBA Of the total $292,500 loan amount, the SBA guaranteed $219,375. 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 10 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are raising money in Long Island City NY, you ought to talk with a local Long Island City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Island City businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in New York City, New York Find an SBA Lender in New York
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