SBA Loan from The Oneida Savings Bank Helps Women's And Children's Underwear Company

The Oneida Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Earlsville, New York was able to borrow $40,000 from The Oneida Savings Bank. The SBA made the loan possible by guaranteeing $34,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S AND CHILDREN'S UNDERWEAR
EARLSVILLE, NY 13332

SBA Loan Lender

THE ONEIDA SAVINGS BANK
182 MAIN ST
ONEIDA, NY 13421

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2341 - Women's and Children's Underwear

NAICS Code

315212 - Women's, Girls', and Infants' Cut and Sew Apparel Contractors

Loan Approval Date

12/6/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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