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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Union Springs, Business Loans > Cayuga Lake National Bank Union Springs Business Loans > Eating Places Loan | ||||
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Cayuga Lake National Bank
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Business Loan from Cayuga Lake National Bank Given to Eating Places CompanyCayuga Lake National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Cayuga Lake National Bank, out of Union Springs, New York. The loan was granted and they received $30,000 to help grow their Auburn, New York business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CAYUGA LAKE NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/8/2002 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 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 20 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you have been wondering how do i get money to start a business 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. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: SBA 7A Banks for Union Springs, New York Loans
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