 |
 |
November 24, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Hsbc Bank Usa Buffalo Business Loans > Grocery Stores Loan | ||||
 |
||||
New York Bank SBA Loans
|
||||
 |
Hsbc Bank Usa SBA Loan to Grocery Stores CompanyWant a New York SBA loan? Here's one New York business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mt. Vernon, New York was able to borrow $50,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $40,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender HSBC BANK USA This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 2/29/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
|
|
||
|
||||
|
|
||||