Hornell, New York Bank Gives SBA Loan to Structural Steel Erection Company

Find Hornell, New York banks that specialize in business loans and know how to work with entrepreneurs. Five Star Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Belfast, New York starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Five Star Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL ERECTION
BELFAST, NY 14711

SBA Loan Lender

FIVE STAR BANK
7434 SENECA RD NORTH
HORNELL, NY 14843

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1791 - Structural Steel Erection

NAICS Code

235910 - Structural Steel Erection Contractors

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 8 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Five Star Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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