Borrowing Money for Fine Arts Schools

Looking for loans for fine arts schools? An SBA loan may be just what you've been looking for. This $15,000 fine arts schools loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marcy, New York was able to borrow $15,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $7,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
MARCY, NY 13403

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

The lender provided this SBA business 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

611610 - Fine Arts Schools

Loan Approval Date

7/13/2006

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Marcy NY, you ought to talk with a local Marcy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Marcy businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hsbc Bank Usa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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