New York City, New York Bank Gives SBA Loan to Meat Processed From Carcasses Company

Get small business loans from a New York City, New York bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Cathay Bank is a New York City, New York small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New York company.

SBA Loan Borrower

COMPANY TYPE: MEAT PROCESSED FROM CARCASSES
NEW YORK, NY 10018

SBA Loan Lender

CATHAY BANK
235 5TH AVE
NEW YORK CITY, NY 10016

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311612 - Meat Processed from Carcasses

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 10 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Cathay Bank 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.

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