New York, New York Entrepreneur Gets a Bank Loan

Bank loans in New York are hard to find these days. We take a look at one New York bank loan, provided by a New York bank, that was approved by the SBA.

Getting a small business loan in New York, New York was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Hsbc Bank Usa. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS MERCHANT WHOLESALERS
NEW YORK, NY 10001

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

The lender provided this commercial 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

424320 - Men's and Boys' Clothing and Furnishings Merchant Wholesalers

Loan Approval Date

4/13/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in New York NY, you ought to talk with a local New York SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New York businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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