Business Loan from Hsbc Bank Usa Given to Testing Laboratories Company
Hsbc Bank Usa 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 business knew how to go about getting a business bank loan. Based in New York, New York, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Hsbc Bank Usa, based in Buffalo, New York.
SBA Loan Borrower
COMPANY TYPE: TESTING LABORATORIES
NEW YORK, NY 10038
SBA Loan Lender
HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203
This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
541380 - Testing Laboratories
Loan Approval Date
10/6/2005
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hsbc Bank Usa are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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