SBA Loan from Solvay Bank Helps Sporting And Recreational Goods And Supplies Company

An SBA loan from Solvay Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cicero, New York business owner got a $130,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cicero, New York was able to borrow $130,000 from Solvay Bank. The SBA made the loan possible by guaranteeing $110,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES
CICERO, NY 13039

SBA Loan Lender

SOLVAY BANK
1537 MILTON AVE
SOLVAY, NY 13209

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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

5091 - Sporting and Recreational Goods and Supplies

NAICS Code

421910 - Sporting and Recreational Goods and Supplies Wholesalers

Loan Approval Date

3/19/2004

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Raising Venture Capital

Find an SBA Lender in Solvay, New York

New York SBA Banks