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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Carver Federal Savings Bank New York City Business Loans > Lee Myles Transmission Loan | ||||
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Business Loans for New Hyde Park Small Business Owners
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New York Entrepreneur Secures Financing to Buy Lee Myles Automotive Transmissions FranchiseNeed a loan to invest in a Lee Myles Automotive Transmissions franchise? Carver Federal Savings Bank has a history of making these loans and they are guaranteed by the SBA. Lee Myles Automotive Transmissions franchise loans are available to New Hyde Park, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Carver Federal Savings Bank, based in New York City, New York, issued an SBA franchise loan for a Lee Myles Automotive Transmissions franchise in 2003. We've got all the details on this New York small business loan. SBA Loan Borrower LEE MYLES TRANSMISSION SBA Loan Lender CARVER FEDERAL SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811113 - Automotive Transmission Repair Loan Approval Date 12/4/2003 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Lee Myles Automotive Transmissions franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: Lee Myles Transmissions and Autocare SBA Banks in New York City, New York
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