Firm Gets a New York Bank Loan

Searching for a New York small business loan? This New York entrepreneur got a small business loan, provided by a New York bank that works with the SBA to help small business owners.

Getting a small business loan in Malone, New York was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Community Bank. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
MALONE, NY 12953

SBA Loan Lender

COMMUNITY BANK
10 ELM ST
MALONE, NY 12953

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

NAICS Code

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

12/2/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 15 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Bank Credit Lines

SBA 7A Banks for Malone, New York Loans

New York SBA 7A Lenders