Entrepreneur Works With New York City, New York Bank to Get an SBA Loan
Find New York City, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Flushing Savings Bank, Fsb is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in New York, New York starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Flushing Savings Bank, Fsb. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SALONS
NEW YORK, NY 10021
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
This lender processed this bank 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
812112 - Beauty Salons
Loan Approval Date
3/6/2007
Loan Approval Gross Amount
$130,000
Loan Approval from the SBA
Of the total $130,000 loan amount, the SBA guaranteed $65,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Flushing Savings Bank, Fsb and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Business Line of Credit
Small Bank Loans in New York City, New York
SBA Lenders in New York