Loan Census Banking News and Information
December 24, 2024  
 
 
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Community Bank

 

 
Loan Census SBA Loan Info

Community Bank SBA Loan to Electrical Wiring Supplies Company

Community Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gouverneur, New York was able to borrow $70,000 from Community Bank. The SBA made the loan possible by guaranteeing $59,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
GOUVERNEUR, NY 13642

SBA Loan Lender

COMMUNITY BANK
100 E MAIN ST
GOUVERNEUR, NY 13642

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

12/10/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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Best Banks for Small Business in Gouverneur, New York

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