Bronx (borough Of New York), New York Entrepreneur Gets an SBA Loan
New YorkSBA loans are available to New York entrepreneurs through the SBA. In this case, a New York bank provides the loan.
This company, based in Bronx (borough Of New York), New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citibank. We've got the inside scoop on this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES
BRONX (BOROUGH OF NEW YORK), NY 10467
SBA Loan Lender
CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120
This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
451110 - Sporting Goods Stores
Loan Approval Date
3/26/2003
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citibank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citibank 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:
Debt Financing
Where to Get an SBA Loan in New York City, New York
Getting a Business Loan in New York