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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Services For The Elderly And Persons With Disabilities Loan | ||||
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New York Small Business SBA Loans
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New York Bank Loan Issued to Services For The Elderly And Persons With Disabilities CompanyBank loans in New York are tough to come by these days. We take a look at one New York bank loan, provided by a California bank, that was approved by the SBA. This small business, based in Amherst, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Wells Fargo Bank. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES SBA Loan Lender WELLS FARGO BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 10/15/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. 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 37 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 34 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best San Jose, California Banks for Small Business
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