Brooklyn, New York Business Gets SBA-Guaranteed Funding from Citibank
Citibank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Citibank, out of New York City, New York. The loan was granted and they received $45,000 to help grow their Brooklyn, New York business.
SBA Loan Borrower
COMPANY TYPE: SPECIALTY FOOD STORES
BROOKLYN, NY 11208
SBA Loan Lender
CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120
This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
445299 - Specialty Food Stores
Loan Approval Date
3/28/2006
Loan Approval Gross Amount
$45,000
Loan Approval from the SBA
Of the total $45,000 loan amount, the SBA guaranteed $22,500.
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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citibank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
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Small Business Banks in New York City, New York
Find an SBA Lender in New York