Bank Loans for Activities Related to Real Estate

With these bank loans for activities related to real estate, the SBA guarantees the lender that the loan will be repaid. This activities related to real estate loan for $30,000 was given to a New York entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Auburn, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Tompkins Trust Company, based in Ithaca, New York.

SBA Loan Borrower

COMPANY TYPE: ACTIVITIES RELATED TO REAL ESTATE
AUBURN, NY 13031

SBA Loan Lender

TOMPKINS TRUST COMPANY
110 N TIOGA ST, THE COMMONS
ITHACA, NY 14850

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531390 - Activities Related to Real Estate

Loan Approval Date

8/10/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Auburn NY, you ought to talk with a local Auburn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Auburn businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Tompkins Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Credit Evaluation

Small Business Banks in Ithaca, New York

Find an SBA Lender in New York