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December 24, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Carver Federal Savings Bank New York City Business Loans > Limited-Service Restaurants Loan | ||||
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Requirements for Businesses On Getting a Loan
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Limited-Service Restaurants Business LoansLooking for business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $275,000 limited-service restaurants 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 $275,000 from Carver Federal Savings Bank. The SBA made the loan possible by guaranteeing $206,250 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender CARVER FEDERAL SAVINGS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 1/24/2003 Loan Approval Gross Amount $275,000 Loan Approval from the SBA Of the total $275,000 loan amount, the SBA guaranteed $206,250. 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 only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 in New York City, New York
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