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May 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Hornell, Business Loans > Steuben Trust Hornell Business Loans > Full-Service Restaurants Loan | ||||
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Hornell Lenders
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Entrepreneur Works With Hornell, New York Bank to Get an SBA LoanA Hornell, New York small business loan can be yours. Learn how a company got a $348,000 business loan from this New York bank. This loan to a local firm is a good example of an SBA loan. Steuben Trust made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender STEUBEN TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/14/2004 Loan Approval Gross Amount $348,000 Loan Approval from the SBA Of the total $348,000 loan amount, the SBA guaranteed $261,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 75 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $348,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Microlending as a Small Business Funding Source Best Hornell, New York Banks for Small Business
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