Ithaca, New York Lender Lends Money to Amusement And Recreation Industries Company

Get to know Ithaca, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Alternatives Fcu is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Ithaca, New York starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Alternatives Fcu. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
ITHACA, NY 14850

SBA Loan Lender

ALTERNATIVES FCU
125 N FULTON ST
ITHACA, NY 14850

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

713990 - Amusement and Recreation Industries

Loan Approval Date

2/15/2005

Loan Approval Gross Amount

$386,000

Loan Approval from the SBA

Of the total $386,000 loan amount, the SBA guaranteed $289,500.

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

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Ithaca or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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