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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Hornell, Business Loans > Steuben Trust Hornell Business Loans > Eating Places Loan | ||||
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New York SBA 7A Lenders
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Entrepreneur Works With Hornell, New York Bank to Get an SBA LoanThinking about meeting with a Hornell, New York bank about a business loan? Here's one New York business loan, issued by a Hornell bank, that was approved by the SBA. Applying for an SBA loan with Steuben Trust worked out well for our friends at one local firm in Hornell, New York. They received an SBA loan for $45,000. Way to go! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender STEUBEN TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/9/2001 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $38,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Steuben Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Who Lends Money to Small Businesses in Hornell, New York
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