Brooklyn, New York Entrepreneur Gets a Small 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.

This small business, based in Brooklyn, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Astoria Fed. S & L Association. We've got the inside scoop on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOCOPYING AND DUPLICATING SERVICES
BROOKLYN, NY 11206

SBA Loan Lender

ASTORIA FED. S & L ASSOCIATION
ONE ASTORIA FEDERAL PLZ
LAKE SUCCESS, NY 11042

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

7334 - Photocopying and Duplicating Services

NAICS Code

323114 - Quick Printing

Loan Approval Date

12/17/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 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.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Angel Investors

Where to Get an SBA Loan in Lake Success, New York

New York SBA Banks