Electronic Component Manufacturing Small Business Loans

Looking for small business loans for electronic component manufacturing? The SBA may be the answer. This $600,000 electronic component manufacturing loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Huntington, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was New York Community Bank, based in Westbury, New York.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC COMPONENT MANUFACTURING
HUNTINGTON, NY 11743

SBA Loan Lender

NEW YORK COMMUNITY BANK
615 MERRICK AVE
WESTBURY, NY 11590

This lender issued this commercial 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.

NAICS Code

334419 - Electronic Component Manufacturing

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Huntington NY, you ought to talk with a local Huntington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Huntington businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from New York Community 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.

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