Bethlehem, Pennsylvania Business Gets SBA-Guaranteed Funding from New York Community Bank

An SBA loan from New York Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bethlehem, Pennsylvania business owner got a $250,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with New York Community Bank, out of North Brunswick, New Jersey. The loan was granted and they received $250,000 to help grow their Bethlehem, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BETHLEHEM, PA 18018

SBA Loan Lender

NEW YORK COMMUNITY BANK
1727 RTE 130
NORTH BRUNSWICK, NJ 08902

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/28/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in North Brunswick, New Jersey

SBA Participating Banks in New Jersey