SBA Loan from Community National Bank Helps Legal Services Company

Community National 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.

Getting a small business loan in Great Neck (village) (p.O. Sta, New York was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community National Bank, operating out of Great Neck, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
GREAT NECK (VILLAGE) (P.O. STA, NY 11021

SBA Loan Lender

COMMUNITY NATIONAL BANK
200 MIDDLE NECK RD
GREAT NECK, NY 11021

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541199 - Legal Services

Loan Approval Date

8/9/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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