Loans for Special Needs Transportation

With these loans for special needs transportation, the SBA guarantees the lender that the loan will be repaid. This special needs transportation loan for $260,000 was given to a New York entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with State Bank Of Long Island, out of Jericho, New York. The loan was granted and they received $260,000 to help grow their Bohemia, New York business.

SBA Loan Borrower

COMPANY TYPE: SPECIAL NEEDS TRANSPORTATION
BOHEMIA, NY 11716

SBA Loan Lender

STATE BANK OF LONG ISLAND
501 N BROADWAY
JERICHO, NY 11753

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485991 - Special Needs Transportation

Loan Approval Date

7/11/2001

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like State Bank Of Long Island and they will explain how you can get an SBA loan for your company.

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:

Debt Financing

SBA Participating Banks in Jericho, New York

New York SBA Banks