New York, New York Entrepreneur Gets a Small Business Loan
New YorkBank loans are available to New York firms through the SBA. In this case, a New York bank provides the loan.
By giving the right information to Carver Federal Savings Bank, this New York, New York business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: COMPUTER RELATED SERVICES
NEW YORK, NY 10018
SBA Loan Lender
CARVER FEDERAL SAVINGS BANK
111 LIVINGSTON ST
NEW YORK CITY, NY 11201
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541519 - Computer Related Services
Loan Approval Date
1/29/2004
Loan Approval Gross Amount
$315,000
Loan Approval from the SBA
Of the total $315,000 loan amount, the SBA guaranteed $236,250.
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 19 employees. The SBA loan application for the borrower indicated that the loan would help retain 19 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.
This SBA loan was for $315,000. How would you spend $315,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Understanding Dilution
Small Bank Loans in New York City, New York
Getting an SBA Loan in New York