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May 16, 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 > Grocery And Related Products Wholesalers Loan | ||||
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Maspeth, New York Bank for SBA Loans
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Getting an SBA Loan for Grocery and Related Products WholesalersLooking for commercial loans for grocery and related products wholesalers? An SBA loan may be just what you've been looking for. This $100,000 grocery and related products wholesalers loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Maspeth, New York was able to borrow $100,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $50,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS SBA Loan Lender HSBC BANK USA The lender provided this loan for a small business 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 422490 - Grocery and Related Products Wholesalers Loan Approval Date 5/14/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 9 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 9 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Hsbc Bank Usa so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Who Lends Money to Small Businesses in Syracuse, New York
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