Brooklyn, New York Business Gets SBA-Guaranteed Funding from Progressive Cu

An SBA loan from Progressive Cu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn, New York business owner got a $625,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Progressive Cu, out of New York City, New York. The loan was granted and they received $625,000 to help grow their Brooklyn, New York business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
BROOKLYN, NY 11209

SBA Loan Lender

PROGRESSIVE CU
370 7TH AVE, STE 1400
NEW YORK CITY, NY 10001

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

5/9/2000

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Brooklyn NY, you ought to talk with a local Brooklyn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brooklyn businesses.

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.

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