New York Community Bank SBA Loan to Insurance Agents And Brokers Company

Looking to get a New York business loan? Here's one New York business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Freeport, New York, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was New York Community Bank, based in Westbury, New York.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
FREEPORT, NY 11520

SBA Loan Lender

NEW YORK COMMUNITY BANK
615 MERRICK AVE
WESTBURY, NY 11590

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

Loan Approval Date

4/19/2000

Loan Approval Gross Amount

$535,000

Loan Approval from the SBA

Of the total $535,000 loan amount, the SBA guaranteed $401,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, 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.

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