Business Loan from Five Star Bank Given to Wines, Brandy, And Brandy Spirits Company

An SBA loan from Five Star Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Interlaker, New York business owner got a $150,000 loan.

This business knew how to go about getting a business bank loan. Based in Interlaker, New York, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Five Star Bank, based in Geneva, New York.

SBA Loan Borrower

COMPANY TYPE: WINES, BRANDY, AND BRANDY SPIRITS
INTERLAKER, NY 14847

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

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

2084 - Wines, Brandy, and Brandy Spirits

NAICS Code

312130 - Wineries

Loan Approval Date

9/5/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Five Star Bank 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:

Business Line of Credit

Best Banks in Geneva, New York

Where to Get an SBA Loan New York