Business Loan from Hsbc Bank Usa Given to Publishing Company
Hsbc Bank Usa has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.
Getting a small business loan in Amherst, New York was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Hsbc Bank Usa, operating out of Buffalo, New York. Here are the details on this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: PUBLISHING
AMHERST, NY 14228
SBA Loan Lender
HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203
This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2741 - Publishing
NAICS Code
511130 - Book Publishers
Loan Approval Date
6/14/2002
Loan Approval Gross Amount
$55,000
Loan Approval from the SBA
Of the total $55,000 loan amount, the SBA guaranteed $46,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the company planned to use the money to hire new 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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $55,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Alternative Financing
Where to Get an SBA Loan in Buffalo, New York
Find an SBA Lender in New York