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May 19, 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 > Motor Vehicle Brake System Manufacturing Loan | ||||
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How Hard Is It to Get a Small Business Loan in Sound Beach, New York?
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Motor Vehicle Brake System Manufacturing Bank LoansLooking for bank loans for motor vehicle brake system manufacturing? Try the SBA. This $20,000 motor vehicle brake system manufacturing loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sound Beach, New York was able to borrow $20,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $10,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE BRAKE SYSTEM MANUFACTURING SBA Loan Lender HSBC BANK USA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 336340 - Motor Vehicle Brake System Manufacturing Loan Approval Date 5/19/2004 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hsbc Bank Usa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hsbc Bank Usa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 - Friends and Family SBA 7A Lenders in Syracuse, New York
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