New York Bank Loan Issued to Full-Service Restaurants Company

Would a New York SBA loan help your business get to the next level? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.

You can learn something about getting a small business loan in Ballston Spa, New York by studying this loan to a local business, made back in 2005. Banks like Nbt Bank, National Association may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BALLSTON SPA, NY 12020

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
10-24 N MAIN ST
GLOVERSVILLE, NY 12078

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/4/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 10 employees. This SBA loan request did not indicate that the small business promised to use the funding to add 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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