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November 14, 2024  
 
 
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Loan Census SBA Loan Info

New York SBA Loan Issued to Furniture Stores Company

New YorkSmall business loans are available to New York small business owners through the SBA. In this case, a New York bank provides the loan.

This company, based in Long Island City, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citibank. We've got the inside scoop on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
LONG ISLAND CITY, NY 11101

SBA Loan Lender

CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120

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

442110 - Furniture Stores

Loan Approval Date

11/4/2003

Loan Approval Gross Amount

$10,600

Loan Approval from the SBA

Of the total $10,600 loan amount, the SBA guaranteed $5,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Citibank 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:

Role of Business Plan When Raising Money

Banks in New York City, New York

Getting an SBA Loan in New York