How to Get a Loan for Lawyers
With these commercial loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $100,000 was given to a New York entrepreneur in 2007.
This small business knew how to go about getting a business bank loan. Based in Long Island City, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Flushing Savings Bank, Fsb, based in New York City, New York.
SBA Loan Borrower
COMPANY TYPE: LAWYERS
LONG ISLAND CITY, NY 11105
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
541110 - Lawyers
Loan Approval Date
1/9/2007
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
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 Flushing Savings Bank, Fsb 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.
Related Links:
Direct Public Offerings
SBA Banks in New York City, New York
New York SBA 7A Banks