Borrowing Money for Carpentry Contractors

With these bank loans for carpentry contractors, the SBA guarantees the lender that the loan will be repaid. This carpentry contractors loan for $500,000 was given to a New York entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cortland Manor, New York was able to borrow $500,000 from Hudson Valley Bank. The SBA made the loan possible by guaranteeing $375,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY CONTRACTORS
CORTLAND MANOR, NY 13045

SBA Loan Lender

HUDSON VALLEY BANK
21 SCARSDALE RD
YONKERS, NY 10707

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

1/25/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 16 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $500,000 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.

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