 |
 |
November 14, 2024 |
|
|
|
|
||
| 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 > Schools And Educational Services Loan | ||||
 |
||||
SBA Lender New York, New York
|
||||
 |
SBA Loan from Carver Federal Savings Bank Helps Schools And Educational Services CompanyCarver Federal Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Carver Federal Savings Bank, out of New York City, New York. The loan was granted and they received $125,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES SBA Loan Lender CARVER FEDERAL SAVINGS BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8299 - Schools and Educational Services Loan Approval Date 8/8/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Obtaining Funding From a Venture Capitalist SBA Approved Banks in New York City, New York Getting an SBA Loan in New York
|
|
||
|
||||
|
|
||||