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November 23, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Olean, Business Loans > Five Star Bank Olean Business Loans > Industrial Machinery And Equipment Wholesalers Loan | ||||
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SBA Lender Olean
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Olean, New York Bank Lends Money to Industrial Machinery And Equipment Wholesalers Company in Olean, New YorkWant to talk with an Olean, New York bank about an SBA loan? Here's one New York business loan, issued by an Olean bank, that was approved by the SBA. Applying for an SBA loan with Five Star Bank worked out well for our friends at one local firm in Olean, New York. They got an SBA loan for $150,000. Great job! SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS SBA Loan Lender FIVE STAR BANK The lender provided this SBA 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 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 2/6/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to borrow money from friends and family, 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. Related Links: Who Lends Money to Small Businesses in Olean, New York
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