How to Get a Loan for Farm Product Raw Material Merchant Wholesalers

Looking for business loans for farm product raw material merchant wholesalers? Try the SBA. This $700,000 farm product raw material merchant wholesalers loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Monsey, New York was able to borrow $700,000 from The Park Avenue Bank. The SBA made the loan possible by guaranteeing $630,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM PRODUCT RAW MATERIAL MERCHANT WHOLESALERS
MONSEY, NY 10952

SBA Loan Lender

THE PARK AVENUE BANK
460 PARK AVE, 13TH FL
NEW YORK CITY, NY 10022

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424590 - Farm Product Raw Material Merchant Wholesalers

Loan Approval Date

9/27/2007

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $630,000.

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. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

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.

We can help you find the best banks for small businesses in Monsey or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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