SBA Loan from Ballston Spa National Bank Helps Family Clothing Stores Company

Ballston Spa National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gansevoort, New York was able to borrow $92,000 from Ballston Spa National Bank. The SBA made the loan possible by guaranteeing $78,200 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
GANSEVOORT, NY 12831

SBA Loan Lender

BALLSTON SPA NATIONAL BANK
87 FRONT ST
BALLSTON SPA, NY 12020

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

1/10/2008

Loan Approval Gross Amount

$92,000

Loan Approval from the SBA

Of the total $92,000 loan amount, the SBA guaranteed $78,200.

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 loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are raising money in Gansevoort NY, you ought to talk with a local Gansevoort SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gansevoort businesses.

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.

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SBA Banks in Ballston Spa, New York

Getting a Business Loan in New York