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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York, Business Loans > Grow America Fund Inc New York Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lenders New York
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New York, New York Bank Lends Money to Full-Service Restaurants Company in New York, New YorkFind New York, New York banks that specialize in business loans and know how to work with entrepreneurs. Grow America Fund Inc 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 business received funding from Grow America Fund Inc. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender GROW AMERICA FUND INC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/16/2005 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $487,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. The SBA loan documents indicated that the loan would help generate 25 new jobs and retain 50 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in New York, New York
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