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December 25, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Olean, Business Loans > Five Star Bank Olean Business Loans > Drinking Places Loan | ||||
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Five Star Bank
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Business Loan from Five Star Bank Given to Drinking Places CompanyFive Star Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Beaver Dams, New York, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Five Star Bank, based in Olean, New York. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender FIVE STAR BANK This lender processed this loan for a small business 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 722410 - Drinking Places Loan Approval Date 7/13/2007 Loan Approval Gross Amount $6,000 Loan Approval from the SBA Of the total $6,000 loan amount, the SBA guaranteed $3,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Five Star Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Five Star 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. Related Links: Who Lends Money to Small Businesses in Olean, New York Where to Get an SBA Loan New York
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