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December 19, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Le Roy, Business Loans > Five Star Bank Le Roy Business Loans > Farm And Garden Machinery And Equipment Wholesalers Loan | ||||
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Albion, New York Bank Loan
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SBA Loans for Farm and Garden Machinery and Equipment WholesalersLooking for SBA loans for farm and garden machinery and equipment wholesalers? Try the SBA. This $200,000 farm and garden machinery and equipment wholesalers loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albion, New York was able to borrow $200,000 from Five Star Bank. The SBA made the loan possible by guaranteeing $150,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT WHOLESALERS SBA Loan Lender FIVE STAR BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421820 - Farm and Garden Machinery and Equipment Wholesalers Loan Approval Date 12/7/2000 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Five Star Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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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