SBA Loan from New York Business Devel Corp Helps Brick, Stone, And Related Construction Materials Company

An SBA loan from New York Business Devel Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wyandanch, New York business owner got a $500,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wyandanch, New York was able to borrow $500,000 from New York Business Devel Corp. The SBA made the loan possible by guaranteeing $375,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIALS
WYANDANCH, NY 11798

SBA Loan Lender

NEW YORK BUSINESS DEVEL CORP
633 3RD AVENUE
NEW YORK, NY 10036

This 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

5032 - Brick, Stone, and Related Construction Materials

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Advice on Getting a Small Business Loan

Banks in New York, New York

Where to Get an SBA Loan New York