SBA Loan from Flushing Savings Bank, Fsb Helps Toy And Hobby Goods And Supplies Merchant Wholesalers Company

Flushing Savings Bank, Fsb is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Flushing Savings Bank, Fsb, out of New York City, New York. The loan was granted and they received $150,000 to help grow their Bayside, New York business.

SBA Loan Borrower

COMPANY TYPE: TOY AND HOBBY GOODS AND SUPPLIES MERCHANT WHOLESALERS
BAYSIDE, NY 11361

SBA Loan Lender

FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003

This lender processed this business 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

423920 - Toy and Hobby Goods and Supplies Merchant Wholesalers

Loan Approval Date

5/18/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Accountant's Role in Securing Financing

Small Business Banks in New York City, New York

Getting a Business Loan in New York