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December 25, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Olean, Business Loans > Five Star Bank Olean Business Loans > Sawmills Loan | ||||
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Olean, New York SBA Lenders
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Olean, New York Lender Lends Money to Sawmills CompanyGet to know Olean, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Five Star Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Jasper, New York starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Five Star Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SAWMILLS SBA Loan Lender FIVE STAR BANK This lender processed this debt financing 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 321113 - Sawmills Loan Approval Date 12/26/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Five Star Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - How to Borrow Money
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