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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Warsaw, Business Loans > Five Star Bank Warsaw Business Loans > Industrial Machinery And Equipment Merchant Wholesalers Loan | ||||
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Five Star Bank Loans
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Industrial Machinery and Equipment Merchant Wholesalers Commercial LoansWith these commercial loans for industrial machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment merchant wholesalers loan for $475,000 was given to a New York entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lancaster, New York was able to borrow $475,000 from Five Star Bank. The SBA made the loan possible by guaranteeing $356,250 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender FIVE STAR BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423830 - Industrial Machinery and Equipment Merchant Wholesalers Loan Approval Date 4/27/2004 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $356,250. 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Five Star Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Five Star Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Advice on Getting a Small Business Loan Best Banks in Warsaw, New York
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