Commercial Loans for General Line Grocery Wholesalers

With these commercial loans for general line grocery wholesalers, the SBA guarantees the lender that the loan will be repaid. This general line grocery wholesalers loan for $250,000 was given to a New York entrepreneur in 2000.

Getting a small business loan in Flushing, New York was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Abacus Federal Savings Bank, operating out of New York City, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
FLUSHING, NY 11354

SBA Loan Lender

ABACUS FEDERAL SAVINGS BANK
6-8 BOWERY
NEW YORK CITY, NY 10013

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5141 - Groceries, General Line

NAICS Code

422410 - General Line Grocery Wholesalers

Loan Approval Date

3/31/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 10 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, if it to be, it is up to me!

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:

Accountant's Role in Securing Financing

Small Business Banks in New York City, New York

SBA New York Lenders