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December 20, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York, Business Loans > Loan Source Incorporated New York Business Loans > Eating Places Loan | ||||
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New York SBA 7A Lenders
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New York, New York Bank Lends Money to Eating Places Company in Brooklyn (borough Of New York), New YorkA New York, New York SBA loan can be yours. Learn how one firm got a $850,000 business loan from this New York bank. This loan to a local firm is a good example of an SBA loan. Loan Source Incorporated made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender LOAN SOURCE INCORPORATED Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/24/2000 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 22 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Realistic Debt Financing Options Where to Get an SBA Loan in New York, New York
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