Flushing Savings Bank, Fsb Gives Business Loan to Coin-Operated Laundries And Drycleaners Company
Small business loans in New York are tough to come by these days. We take a look at one New York small business loan, provided by a New York bank, that was approved by the SBA.
Getting a small business loan in Flushing, New York was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Flushing Savings Bank, Fsb. Here are the details on this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
FLUSHING, NY 11367
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
812310 - Coin-Operated Laundries and Drycleaners
Loan Approval Date
6/26/2006
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.
Related Links:
Family and Friend Investors - Your First Financiers
Who Lends Money to Small Businesses in New York City, New York
Getting an SBA Loan in New York