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May 11, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Warsaw, Business Loans > Five Star Bank Warsaw Business Loans > Refrigeration Equipment And Supplies Wholesalers Loan | ||||
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Banks in Warsaw, New York That Make SBA Loans
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Warsaw, New York Lender Lends Money to Refrigeration Equipment And Supplies Wholesalers CompanyA Warsaw, New York SBA loan can be yours. Learn how a business got a $173,500 business loan from this New York bank. This loan to an entrepreneur is a good example of an SBA loan. Five Star Bank 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: REFRIGERATION EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender FIVE STAR BANK 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 421740 - Refrigeration Equipment and Supplies Wholesalers Loan Approval Date 2/28/2003 Loan Approval Gross Amount $173,500 Loan Approval from the SBA Of the total $173,500 loan amount, the SBA guaranteed $130,125. 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 only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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: Best Warsaw, New York Banks for Small Business
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