SBA Loan from Five Star Bank Helps Remediation Services Company

Five Star Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Honeoye, New York, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Five Star Bank, based in Warsaw, New York.

SBA Loan Borrower

COMPANY TYPE: REMEDIATION SERVICES
HONEOYE, NY 14471

SBA Loan Lender

FIVE STAR BANK
55 N MAIN ST
WARSAW, NY 14569

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

562910 - Remediation Services

Loan Approval Date

3/14/2003

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Five Star Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Borrowing Money from Friends and Family

Small Business Banks in Warsaw, New York

Getting an SBA Loan in New York