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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Scotia, Business Loans > First National Bank Of Scotia Scotia Business Loans > Grocery Stores Loan | ||||
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New York SBA Loan from First National Bank Of Scotia
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SBA Loan from First National Bank Of Scotia Helps Grocery Stores CompanyFirst National Bank Of Scotia and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First National Bank Of Scotia, out of Scotia, New York. The loan was granted and they received $20,600 to help grow their Scotia, New York business. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender FIRST NATIONAL BANK OF SCOTIA This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 445120 - Convenience Stores Loan Approval Date 9/20/2001 Loan Approval Gross Amount $20,600 Loan Approval from the SBA Of the total $20,600 loan amount, the SBA guaranteed $17,510. 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 11 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Scotia, New York
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