How to Get a Loan for Direct Selling Establishments
With these business loans for direct selling establishments, the SBA guarantees the lender that the loan will be repaid. This direct selling establishments loan for $210,000 was given to a New York entrepreneur in 2005.
This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Flushing Savings Bank, Fsb, out of New York City, New York. The loan was granted and they received $210,000 to help grow their Brooklyn, New York business.
SBA Loan Borrower
COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
BROOKLYN, NY 11217
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
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.
NAICS Code
454390 - Direct Selling Establishments
Loan Approval Date
5/25/2005
Loan Approval Gross Amount
$210,000
Loan Approval from the SBA
Of the total $210,000 loan amount, the SBA guaranteed $157,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 24 employees. The SBA loan application for the borrower indicated that the loan would help retain 24 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $210,000 loan. Remember, if it to be, it is up to me!
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:
How to Raise Money
SBA Banks in New York City, New York
Getting a Business Loan in New York