Bronx (borough Of New York), New York Business Gets SBA-Guaranteed Funding from Hsbc Bank Usa

An SBA loan from Hsbc Bank Usa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bronx (borough Of New York), New York business owner got a $70,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Hsbc Bank Usa, out of Syracuse, New York. The loan was granted and they received $70,000 to help grow their Bronx (borough Of New York), New York business.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
BRONX (BOROUGH OF NEW YORK), NY 10462

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

12/3/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 40 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Getting a Small Business Loan

Banks in Syracuse, New York

New York SBA Banks