Company Gets a New York Small Business Loan

Would a New York SBA loan help your business get to the next level? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.

Getting a small business loan in Orchard Park, New York was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Hsbc Bank Usa. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
ORCHARD PARK, NY 14127

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

812990 - Personal Services

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hsbc Bank Usa that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Syracuse, New York

New York SBA Banks