Entrepreneur Works With Geneva, New York Bank to Get an SBA Loan

Find Geneva, 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 one business.

Finding a small business loan in Lodi, New York starts with an understanding of who else has gotten loans in the area. In this case, a local business 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: DRINKING PLACES
LODI, NY 14860

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

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

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$107,500

Loan Approval from the SBA

Of the total $107,500 loan amount, the SBA guaranteed $91,375.

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 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Five Star Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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