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November 23, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Olean, Business Loans > Five Star Bank Olean Business Loans > Special Trade Contractors Loan | ||||
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Five Star Bank
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SBA Loan from Five Star Bank Helps Special Trade Contractors CompanyFive Star Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Churchville, New York was able to borrow $20,000 from Five Star Bank. The SBA made the loan possible by guaranteeing $10,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender FIVE STAR BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 235990 - Special Trade Contractors Loan Approval Date 1/18/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Five Star Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Where to Get an SBA Loan in Olean, New York Getting a Business Loan in New York
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