Syracuse, New York Bank Gives SBA Loan to Totalizing Fluid Meter And Counting Device Manufacturing Company

Want to talk with a Syracuse, New York bank about a business loan? Here's one New York business loan, issued by a Syracuse bank, that was approved by the SBA.

Applying for an SBA loan with Hsbc Bank Usa worked out well for our friends at one local company in Forest Hills, New York. The business was able to get an SBA loan for $50,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: TOTALIZING FLUID METER AND COUNTING DEVICE MANUFACTURING
FOREST HILLS, NY 11375

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

334514 - Totalizing Fluid Meter and Counting Device Manufacturing

Loan Approval Date

4/22/2005

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hsbc Bank Usa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hsbc Bank Usa 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.

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