Great Neck, New York Lender Lends Money to Baked Goods Stores Company

Want to talk with a Great Neck, New York bank about a business loan? Here's one New York business loan, issued by a Great Neck bank, that was approved by the SBA.

Applying for an SBA loan with Community National Bank worked out well for our friends at one local firm in Bay Shore, New York. They got an SBA loan for $280,000. Nice!

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
BAY SHORE, NY 11706

SBA Loan Lender

COMMUNITY NATIONAL BANK
200 MIDDLE NECK RD
GREAT NECK, NY 11021

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

9/12/2006

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

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 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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