New York, New York Entrepreneur Gets a Business Loan
Want a New York bank loan? This New York entrepreneur got a bank loan, provided by a New York bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in New York, New York by studying this loan to a local company, made back in 2005. Banks like Hsbc Bank Usa may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEW YORK, NY 10001
SBA Loan Lender
HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203
This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
722211 - Limited-Service Restaurants
Loan Approval Date
11/14/2005
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 a new 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 application for the borrower indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hsbc Bank Usa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hsbc Bank Usa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
SBIR Funding
Good Banks for Small Business in Buffalo, New York
SBA Lenders in New York