New York Bank Loan Issued to Tax Return Preparation Services Company

Would a New York business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.

Getting a small business loan in Elmira, New York was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Bank. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: TAX RETURN PREPARATION SERVICES
ELMIRA, NY 14901

SBA Loan Lender

COMMUNITY BANK
300 W WATER ST
ELMIRA, NY 14901

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7291 - Tax Return Preparation Services

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

9/7/2001

Loan Approval Gross Amount

$83,600

Loan Approval from the SBA

Of the total $83,600 loan amount, the SBA guaranteed $71,060.

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 7 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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