Entrepreneur Works With Salt Lake City, Utah Bank to Get an SBA Loan

Get to know Salt Lake City, Utah banks that specialize in SBA loans and know how to work with entrepreneurs. Merrill Lynch Bank Usa is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Brooklyn (borough Of New York), New York starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Merrill Lynch Bank Usa. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
BROOKLYN (BOROUGH OF NEW YORK), NY 11232

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

5/24/2002

Loan Approval Gross Amount

$345,000

Loan Approval from the SBA

Of the total $345,000 loan amount, the SBA guaranteed $258,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 125 employees. The SBA loan application for the borrower indicated that the loan would help retain 125 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Brooklyn (borough Of New York) NY, you ought to talk with a local Brooklyn (borough Of New York) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brooklyn (borough Of New York) businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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