Firm Gets a New York SBA Loan
Would a New York small business loan help your small business to grow and prosper? If so, you may want to talk with this Pennsylvania bank, which offers SBA loans to New York entrepreneurs.
Getting a small business loan in Bronx, New York was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank. Here are the details on this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
BRONX, NY 10465
SBA Loan Lender
COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103
This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
453220 - Gift, Novelty, and Souvenir Stores
Loan Approval Date
5/16/2006
Loan Approval Gross Amount
$135,000
Loan Approval from the SBA
Of the total $135,000 loan amount, the SBA guaranteed $114,750.
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 only one employee. The loan application indicated that the funding would help generate 5 new jobs.
Next Steps for Getting an SBA Loan
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Commerce 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.
Related Links:
Obtaining Funding - How to Borrow Money
SBA 7A Banks in Philadelphia, Pennsylvania
Getting a Business Loan in Pennsylvania