Raising Money for Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System
With these business loans for search, detection, navigation, guidance, aeronautical, and nautical system, the SBA guarantees the lender that the loan will be repaid. This search, detection, navigation, guidance, aeronautical, and nautical system loan for $125,000 was given to a New York entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hauppauge, New York was able to borrow $125,000 from Valley National Bank. The SBA made the loan possible by guaranteeing $93,750 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: AERONAUTICAL AND NAUTICAL SEARCH AND NAVIGATION
HAUPPAUGE, NY 11788
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3812 - Aeronautical and Nautical Search and Navigation
NAICS Code
334511 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System
Loan Approval Date
12/5/2000
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $93,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Valley National Bank and they will explain how you can get an SBA loan for your company.
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:
Alternative Financing
SBA 7A Lenders in North Plainfield, New Jersey
Getting an SBA Loan in New Jersey