Firm Gets a New York Business Loan
Would a New York small business loan help your small business to grow and prosper? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.
By giving the right information to Flatbush Fed. S & L Association, this Brooklyn, New York business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: HARDWARE STORES
BROOKLYN, NY 11225
SBA Loan Lender
FLATBUSH FED. S & L ASSOCIATION
2146 NOSTRAND AVE
NEW YORK CITY, NY 11210
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5251 - Hardware Stores
NAICS Code
444130 - Hardware Stores
Loan Approval Date
1/6/2000
Loan Approval Gross Amount
$75,000
Loan Approval from the SBA
Of the total $75,000 loan amount, the SBA guaranteed $60,000.
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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Flatbush Fed. S & L Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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
Best Banks in New York City, New York
New York SBA Banks