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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Owego, Business Loans > Tioga State Bank Owego Business Loans > Computer Peripheral Equipment Manufacturing Loan | ||||
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Tioga State Bank
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Endicott, New York Business Gets SBA-Guaranteed Funding from Tioga State BankTioga State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Endicott, New York was able to borrow $511,500 from Tioga State Bank. The SBA made the loan possible by guaranteeing $383,625 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER PERIPHERAL EQUIPMENT MANUFACTURING SBA Loan Lender TIOGA STATE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334119 - Computer Peripheral Equipment Manufacturing Loan Approval Date 4/16/2004 Loan Approval Gross Amount $511,500 Loan Approval from the SBA Of the total $511,500 loan amount, the SBA guaranteed $383,625. 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 27 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Tioga State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Tioga State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in Owego, New York
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