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November 24, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > Automotive Transmission Repair Loan | ||||
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Citibank Bronx, New York
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Citibank SBA Loan to Automotive Transmission Repair CompanyCitibank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bronx, New York was able to borrow $20,000 from Citibank. The SBA made the loan possible by guaranteeing $10,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SBA Loan Lender CITIBANK 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 811113 - Automotive Transmission Repair Loan Approval Date 12/27/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding - Friends and Family SBA 7A Banks in Las Vegas, Nevada Getting a Business Loan in Nevada
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