Entrepreneur Works With Albany, New York Bank to Get an SBA Loan

Want to talk with an Albany, New York bank about a small 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 business in Dansville, New York. The business was able to get an SBA loan for $2,000,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: RAILROAD ROLLING STOCK MANUFACTURING
DANSVILLE, NY 14437

SBA Loan Lender

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

This 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.

NAICS Code

336510 - Railroad Rolling Stock Manufacturing

Loan Approval Date

5/3/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 111 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 81 existing jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like New York Business Devel Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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SBA Participating Banks in Albany, New York

Where to Get an SBA Loan New York