Brooklyn, New York Entrepreneur Gets an SBA Loan

Want a New York bank loan? This New York entrepreneur got a bank loan, provided by a New York bank that works with the SBA to help small business owners.

Getting a small business loan in Brooklyn, New York was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
BROOKLYN, NY 11212

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

6/12/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business 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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