New York Small Business Loan Issued to Beer, Wine, And Liquor Stores Company

Bank loans in New York are are few and far betweeen these days. We take a look at one New York bank loan, provided by a New Jersey bank, that was approved by the SBA.

This business, based in Bronx, 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 1st Constitution Bank. We've got the inside scoop on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
BRONX, NY 10466

SBA Loan Lender

1ST CONSTITUTION BANK
RTE 130 & DEY RD
CRANBURY, NJ 08512

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

4/29/2005

Loan Approval Gross Amount

$860,000

Loan Approval from the SBA

Of the total $860,000 loan amount, the SBA guaranteed $645,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from 1st Constitution Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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