Where to Get Capital for General Merchandise Stores

With these small business loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $40,000 was given to a New York entrepreneur in 2000.

Getting a small business loan in Buffalo, New York was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from New York Business Devel Corp, operating out of Albany, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
BUFFALO, NY 14201

SBA Loan Lender

NEW YORK BUSINESS DEVEL CORP
50 BEAVER STREET, P.O. BOX 73
ALBANY, NY 12201

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.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

5/23/2000

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. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Buffalo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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