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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Ithaca, Business Loans > Tompkins Trust Company Ithaca Business Loans > Limited-Service Restaurants Loan | ||||
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SBA Lender Ithaca New York
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Limited-Service Restaurants Business LoansWith these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $80,000 was given to a New York entrepreneur in 2007. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Tompkins Trust Company, out of Ithaca, New York. The loan was granted and they received $80,000 to help grow their Ithaca, New York business. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender TOMPKINS TRUST COMPANY This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 722211 - Limited-Service Restaurants Loan Approval Date 8/3/2007 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 15 employees. The loan application indicated that the borrowed money would help generate 15 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Tompkins Trust Company 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. Related Links: Accountant's Role in Securing Financing SBA 7A Banks for Ithaca, New York Loans
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