Binghamton, New York Entrepreneur Gets a Bank Loan
Bank loans in New York are hard to find these days. We take a look at one New York bank loan, provided by a California bank, that was approved by the SBA.
By giving the right information to Superior Financial Group, LLC, this Binghamton, New York business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
BINGHAMTON, NY 13901
SBA Loan Lender
SUPERIOR FINANCIAL GROUP, LLC
165 LENNON LANE, SUITE 101
WALNUT CREEK, CA 94598
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
484110 - General Freight Trucking, Local
Loan Approval Date
2/4/2008
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $4,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Superior Financial Group, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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