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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Le Roy, Business Loans > Five Star Bank Le Roy Business Loans > Single-Family Housing Construction Loan | ||||
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How to Get SBA Loans in Byron, New York
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Borrowing Money for Single Family Housing ConstructionLooking for bank loans for single family housing construction? Try the SBA. This $50,000 single family housing construction loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Byron, New York was able to borrow $50,000 from Five Star Bank. The SBA made the loan possible by guaranteeing $42,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender FIVE STAR BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1521 - Single-Family Housing Construction NAICS Code 233210 - Single Family Housing Construction Loan Approval Date 4/6/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees. 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, feel the fear, and do it anyway. 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
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