Borrowing Money for Business Support Services

With these bank loans for business support services, the SBA guarantees the lender that the loan will be repaid. This business support services loan for $50,000 was given to a New York entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cazenovia, New York was able to borrow $50,000 from The Oneida Savings Bank. The SBA made the loan possible by guaranteeing $42,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
CAZENOVIA, NY 13035

SBA Loan Lender

THE ONEIDA SAVINGS BANK
182 MAIN ST
ONEIDA, NY 13421

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

9/17/2001

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 a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - How to Borrow Money

Best Banks in Oneida, New York

SBA Participating Banks in New York