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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Syracuse, Business Loans > Hsbc Bank Usa Syracuse Business Loans > Employee Leasing Services Loan | ||||
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Small Business Banks in New York
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Raising Money for Employee Leasing ServicesLooking for bank loans for employee leasing services? The SBA may be the answer. This $35,000 employee leasing services loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $35,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $17,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: EMPLOYEE LEASING SERVICES SBA Loan Lender HSBC BANK USA The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 561330 - Employee Leasing Services Loan Approval Date 11/18/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. 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. 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 Hsbc Bank Usa 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: SBA 7A Lenders in Syracuse, New York
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