Citibank Gives SBA Loan to Motion Picture And Video Tape Production Company

Searching for a New York SBA loan? This New York entrepreneur got an SBA 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 business, made back in 2000. Banks like Citibank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO TAPE PRODUCTION
NEW YORK, NY 10016

SBA Loan Lender

CITIBANK
120 BROADWAY
NEW YORK CITY, NY 10271

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7812 - Motion Picture and Video Tape Production

NAICS Code

512110 - Motion Picture and Video Production

Loan Approval Date

1/24/2000

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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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

Related Links:

Business Line of Credit

SBA Participating Banks in New York City, New York

SBA Participating Banks in New York