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May 16, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Albany, Business Loans > New York Business Devel Corp Albany Business Loans > Home Furnishings Stores Loan | ||||
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New York Small Business SBA Loans
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Ovid, New York Entrepreneur Gets a Bank LoanSearching for a New York small business loan? This New York entrepreneur got a small business loan, provided by a New York bank that works with the SBA to help small business owners. Getting a small business loan in Ovid, 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 New York Business Devel Corp. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender NEW YORK BUSINESS DEVEL CORP As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 10/13/2005 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 2 new jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Albany, New York
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