Raising Money for Store Retailers

With these business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $246,000 was given to a New York entrepreneur in 2008.

This small business knew how to go about getting a business bank loan. Based in Horseheads, New York, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was The Elmira Savings Bank, Fsb, based in Elmira, New York.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
HORSEHEADS, NY 14845

SBA Loan Lender

THE ELMIRA SAVINGS BANK, FSB
333 E WATER ST
ELMIRA, NY 14901

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

453998 - Store Retailers

Loan Approval Date

1/22/2008

Loan Approval Gross Amount

$246,000

Loan Approval from the SBA

Of the total $246,000 loan amount, the SBA guaranteed $123,000.

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 9 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 19 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Elmira Savings Bank, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Elmira Savings Bank, Fsb 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:

Strategic Investors

SBA Approved Banks in Elmira, New York

Find an SBA Lender in New York