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November 25, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Hsbc Bank Usa Buffalo Business Loans > Furniture Stores Loan | ||||
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Advice for Businesses On Getting a Loan
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Furniture Stores Business LoansLooking for business loans for furniture stores? Talk to a banker who works with the SBA. This $100,000 furniture stores loan was issued by a New York bank. This small business knew how to go about getting a business bank loan. Based in Elmhurst, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Hsbc Bank Usa, based in Buffalo, New York. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender HSBC BANK USA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 442110 - Furniture Stores Loan Approval Date 4/6/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Hsbc Bank Usa so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Banks in Buffalo, New York
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