Citibank SBA Loan to Brick, Stone, And Related Construction Material Merchant Wholesalers Company

An SBA loan from Citibank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lynbrook, New York business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lynbrook, New York was able to borrow $100,000 from Citibank. The SBA made the loan possible by guaranteeing $50,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
LYNBROOK, NY 11563

SBA Loan Lender

CITIBANK
3900 PARADISE RD, STE 127
LAS VEGAS, NV 89109

The lender provided this debt financing 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

423320 - Brick, Stone, and Related Construction Material Merchant Wholesalers

Loan Approval Date

6/1/2007

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. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

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