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February 5, 2025 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Local Messengers And Local Delivery Loan | ||||
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Small Business Banks for Brooklyn Business Owners
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Brooklyn, New York Entrepreneur Gets a Small Business LoanNew YorkBusiness loans are available to New York business owners through the SBA. In this case, a New York bank provides the loan. Getting a small business loan in Brooklyn, New York was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Newtek Small Business Finance Inc.. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: LOCAL MESSENGERS AND LOCAL DELIVERY SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 492210 - Local Messengers and Local Delivery Loan Approval Date 5/11/2005 Loan Approval Gross Amount $156,000 Loan Approval from the SBA Of the total $156,000 loan amount, the SBA guaranteed $117,000. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Determining Proper Capital Structure for a Business
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