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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Meat Markets Loan | ||||
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Best Banks That Lend to Monroe Small Businesses
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Monroe, New York Entrepreneur Gets a Business LoanBank loans in New York are are few and far betweeen these days. We take a look at one New York bank loan, provided by a New York bank, that was approved by the SBA. By giving the right information to Newtek Small Business Finance Inc., this Monroe, New York business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MEAT MARKETS SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445210 - Meat Markets Loan Approval Date 7/2/2002 Loan Approval Gross Amount $1,250,000 Loan Approval from the SBA Of the total $1,250,000 loan amount, the SBA guaranteed $937,500. 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 75 employees. The loan application did not indicate that the business planned 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? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Newtek Small Business Finance Inc. 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: SBA 7A Banks for New York, New York Loans
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