Olean, New York Bank Gives SBA Loan to Game, Toy, And Children's Vehicle Manufacturing Company

Get to know Olean, New York banks that specialize in business loans and know how to work with entrepreneurs. Five Star Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Allegany, New York starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Five Star Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GAME, TOY, AND CHILDREN'S VEHICLE MANUFACTURING
ALLEGANY, NY 14760

SBA Loan Lender

FIVE STAR BANK
129 N UNION ST
OLEAN, NY 14760

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339932 - Game, Toy, and Children's Vehicle Manufacturing

Loan Approval Date

10/7/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 10 employees. This SBA loan request 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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