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December 23, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Get a Small Business Loan in Hempstead, New York
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Hempstead, New York Entrepreneur Gets a Bank LoanSearching for a New York bank loan? This New York entrepreneur got a bank loan, provided by a Rhode Island bank that works with the SBA to help small business owners. Getting a small business loan in Hempstead, New York was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 9/26/2003 Loan Approval Gross Amount $29,000 Loan Approval from the SBA Of the total $29,000 loan amount, the SBA guaranteed $14,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks for Providence, Rhode Island Loans
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