Entrepreneur Works With New York City, New York Bank to Get an SBA Loan
Thinking about meeting with a New York City, New York bank about a small business loan? Here's one New York business loan, issued by a New York City bank, that was approved by the SBA.
Applying for an SBA loan with Citibank worked out well for our friends at one local firm in New York, New York. The business was able to get an SBA loan for $38,000. Way to go!
SBA Loan Borrower
COMPANY TYPE: COMPUTER RELATED SERVICES
NEW YORK, NY 10001
SBA Loan Lender
CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120
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
541519 - Computer Related Services
Loan Approval Date
2/6/2006
Loan Approval Gross Amount
$38,000
Loan Approval from the SBA
Of the total $38,000 loan amount, the SBA guaranteed $19,000.
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 2 employees. The loan application indicated that the loan would help retain 2 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 New York 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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