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May 19, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Fulton, Business Loans > Fulton Savings Bank Fulton Business Loans > Hotels And Motels Loan | ||||
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New York SBA 7A Lenders
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Fulton, New York Lender Lends Money to Hotels And Motels CompanyThinking about meeting with a Fulton, New York bank about a small business loan? Here's one New York business loan, issued by a Fulton bank, that was approved by the SBA. Applying for an SBA loan with Fulton Savings Bank worked out well for our friends at one local firm in Vienna, New York. The business was able to get an SBA loan for $265,500. Awesome! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender FULTON SAVINGS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721199 - Traveler Accommodation Loan Approval Date 12/11/2002 Loan Approval Gross Amount $265,500 Loan Approval from the SBA Of the total $265,500 loan amount, the SBA guaranteed $199,125. 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 4 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Vienna or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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:
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