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November 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Albany, Business Loans > New York Business Devel Corp Albany Business Loans > Insurance Agents And Brokers Loan | ||||
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How to Get SBA Loans in Hammond, New York
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Commercial Loans for Insurance Agencies and BrokeragesWith these commercial loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $143,000 was given to a New York entrepreneur in 2002. This business knew how to go about getting a business bank loan. Based in Hammond, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was New York Business Devel Corp, based in Albany, New York. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender NEW YORK BUSINESS DEVEL CORP 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 NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 7/11/2002 Loan Approval Gross Amount $143,000 Loan Approval from the SBA Of the total $143,000 loan amount, the SBA guaranteed $121,550. 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 company promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. New York Business Devel Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, New York Business Devel Corp 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. Related Links:
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