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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Machine Shops Loan | ||||
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Raising Money in Altamont, New York With SBA Loans
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How to Get a Loan for Machine ShopsLooking for SBA loans for machine shops? The SBA may be the answer. This $350,000 machine shops loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Altamont, New York was able to borrow $350,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $175,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender BANCO POPULAR NORTH AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332710 - Machine Shops Loan Approval Date 5/8/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 45 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 45 existing jobs. 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. We can help you find the best banks for small businesses in Altamont 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: SBA 7A Lenders in New York City, New York Getting a Business Loan in New York
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