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December 22, 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 > Family Clothing Stores Loan | ||||
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Hsbc Bank Usa New York
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New York, New York Business Gets SBA-Guaranteed Funding from Hsbc Bank UsaHsbc Bank Usa and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Hsbc Bank Usa, out of Syracuse, New York. The loan was granted and they received $25,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender HSBC BANK USA 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 448140 - Family Clothing Stores Loan Approval Date 3/4/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Hsbc Bank Usa so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Banking Deregulation's Effects on Entrepreneurship
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