 |
 |
November 24, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New York Business Loan Sources > Syracuse, Business Loans > Hsbc Bank Usa Syracuse Business Loans > Fruit And Vegetable Markets Loan | ||||
 |
||||
Hsbc Bank Usa
|
||||
 |
SBA Loan from Hsbc Bank Usa Helps Fruit And Vegetable Markets CompanyAn SBA loan from Hsbc Bank Usa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Flushing, New York business owner got a $60,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Flushing, New York was able to borrow $60,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $30,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: FRUIT AND VEGETABLE MARKETS SBA Loan Lender HSBC BANK USA The lender provided this SBA 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 445230 - Fruit and Vegetable Markets Loan Approval Date 10/19/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 7A Banks in Syracuse, New York SBA Participating Banks in New York
|
|
||
|
||||
|
|
||||