Tioga State Bank SBA Loan to Fine Arts Schools Company

An SBA loan from Tioga State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Binghamton, New York business owner got a $191,000 loan.

Getting a small business loan in Binghamton, New York was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Tioga State Bank, operating out of Vestal, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
BINGHAMTON, NY 13905

SBA Loan Lender

TIOGA STATE BANK
1250 VESTAL PKWY EAST
VESTAL, NY 13851

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611610 - Fine Arts Schools

Loan Approval Date

8/27/2004

Loan Approval Gross Amount

$191,000

Loan Approval from the SBA

Of the total $191,000 loan amount, the SBA guaranteed $143,250.

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. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Tioga State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Tioga State 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:

Obtaining Funding From a Venture Capitalist

Where to Get an SBA Loan in Vestal, New York

Getting an SBA Loan in New York