New York Business Loan Issued to Welding And Soldering Equipment Manufacturing Company

New YorkSBA loans are available to New York entrepreneurs through the SBA. In this case, a New York bank provides the loan.

You can learn something about getting a small business loan in Mattituck, New York by studying this loan to a local business, made back in 2005. Banks like Suffolk Cnty National Bank - Riverh may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: WELDING AND SOLDERING EQUIPMENT MANUFACTURING
MATTITUCK, NY 11952

SBA Loan Lender

SUFFOLK CNTY NATIONAL BANK - RIVERH
4 W 2ND ST
RIVERHEAD, NY 11901

This lender processed this loan 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

333992 - Welding and Soldering Equipment Manufacturing

Loan Approval Date

7/25/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Suffolk Cnty National Bank - Riverh and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

Best Banks in Riverhead, New York

SBA Lenders in New York