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December 19, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Le Roy, Business Loans > Five Star Bank Le Roy Business Loans > Eating Places Loan | ||||
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Five Star Bank Leroy, New York
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Leroy, New York Business Gets SBA-Guaranteed Funding from Five Star BankAn SBA loan from Five Star Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Leroy, New York business owner got a $20,000 loan. Getting a small business loan in Leroy, New York was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Five Star Bank, operating out of Le Roy, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIVE STAR BANK 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/6/2000 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $16,000. 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 19 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: A Company That Helps Entrepreneurs Small Business Banks in Le Roy, New York
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