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May 19, 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 > Industrial And Commercial Machinery And Equipment Loan | ||||
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How to Get SBA Loans in Syracuse, New York
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Small Business Loans for Machine ShopsWith these small business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $122,400 was given to a New York entrepreneur in 2004. Getting a small business loan in Syracuse, New York was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from New York Business Devel Corp, operating out of Albany, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT SBA Loan Lender NEW YORK BUSINESS DEVEL CORP This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3599 - Industrial and Commercial Machinery and Equipment NAICS Code 332710 - Machine Shops Loan Approval Date 10/22/2004 Loan Approval Gross Amount $122,400 Loan Approval from the SBA Of the total $122,400 loan amount, the SBA guaranteed $104,040. 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 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $122,400 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: Find an SBA Lender in New York
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