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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Elmira, Business Loans > Chemung Canal Trust Company Elmira Business Loans > Retail Stores Loan | ||||
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New York Bank SBA Loans
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Chemung Canal Trust Company SBA Loan to Retail Stores CompanyWant a New York small business loan? Here's one New York business loan that was approved by the SBA. This growing firm needed an SBA business loan in Elmira, New York back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Chemung Canal Trust Company, operating out of Elmira, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender CHEMUNG CANAL TRUST COMPANY 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. SIC Code 5999 - Retail Stores Loan Approval Date 8/2/2000 Loan Approval Gross Amount $243,000 Loan Approval from the SBA Of the total $243,000 loan amount, the SBA guaranteed $182,250. 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 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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 $243,000 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Best Elmira, New York Banks for Small Business
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