Watertown, New York Lender Lends Money to Insurance Agents And Brokers Company

Get to know Watertown, New York banks that specialize in small business loans and know how to work with entrepreneurs. Hsbc Bank Usa is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Cape Vincent, New York starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Hsbc Bank Usa. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
CAPE VINCENT, NY 13618

SBA Loan Lender

HSBC BANK USA
120 WASHINGTON ST
WATERTOWN, NY 13601

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

9/13/2002

Loan Approval Gross Amount

$44,625

Loan Approval from the SBA

Of the total $44,625 loan amount, the SBA guaranteed $33,469.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Hsbc Bank Usa and they will explain how you can get an SBA loan for your company.

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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