Newburgh, New York Entrepreneur Gets a Small Business Loan

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

Getting a small business loan in Newburgh, New York was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Pnc Bank, National Association. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
NEWBURGH, NY 12550

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
8800 TINICUM BLVD, 1ST FL, MA
PHILADELPHIA, PA 19153

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

9/10/2003

Loan Approval Gross Amount

$926,000

Loan Approval from the SBA

Of the total $926,000 loan amount, the SBA guaranteed $694,500.

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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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