Health and Personal Care Stores Business Loans
Looking for business loans for health and personal care stores? The SBA may be the answer. This $70,000 health and personal care stores loan was issued by a New York bank.
This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Flatbush Fed. S & L Association, out of New York City, New York. The loan was granted and they received $70,000 to help grow their Copiague, New York business.
SBA Loan Borrower
COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT
COPIAGUE, NY 11726
SBA Loan Lender
FLATBUSH FED. S & L ASSOCIATION
2146 NOSTRAND AVE
NEW YORK CITY, NY 11210
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
5047 - Medical, Dental and Hospital Equipment
NAICS Code
446199 - Health and Personal Care Stores
Loan Approval Date
2/28/2003
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $59,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
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SBA 7A Banks in New York City, New York
Getting a Business Loan in New York