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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 > Lessors Of Residential Buildingsv And Dwellings Loan | ||||
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Hsbc Bank Usa
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New York, New York Business Gets SBA-Guaranteed Funding from Hsbc Bank UsaHsbc Bank Usa has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Hsbc Bank Usa, out of Syracuse, New York. The loan was granted and they received $50,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: LESSORS OF RESIDENTIAL BUILDINGSV AND DWELLINGS SBA Loan Lender HSBC BANK USA The lender provided this small business 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 531110 - Lessors of Residential Buildingsv and Dwellings Loan Approval Date 12/9/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks for Syracuse, New York Loans
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