Albany, New York Bank Lends Money to Specialty Cleaning, Polishes And Sanitation Goods Company in Cortland, New York

Thinking about meeting with an Albany, New York bank about a business loan? Here's one New York business loan, issued by an Albany bank, that was approved by the SBA.

Applying for an SBA loan with New York Business Devel Corp worked out well for our friends at one local firm in Cortland, New York. They received an SBA loan for $300,000. Nice!

SBA Loan Borrower

COMPANY TYPE: SPECIALTY CLEANING, POLISHES AND SANITATION GOODS
CORTLAND, NY 13045

SBA Loan Lender

NEW YORK BUSINESS DEVEL CORP
50 BEAVER STREET, P.O. BOX 73
ALBANY, NY 12201

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2842 - Specialty Cleaning, Polishes and Sanitation Goods

NAICS Code

325611 - Soap and Detergent Manufacturing

Loan Approval Date

1/22/2003

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

Best Banks for Small Business in Albany, New York

Getting an SBA Loan in New York

Banks in Albany, New York That Make SBA Loans

Albany, New York Bank Lends Money to Specialty Cleaning, Polishes And Sanitation Goods Company in Cortland, New York