Buffalo, New York Lender Lends Money to Eating Places Company
Thinking about meeting with a Buffalo, New York bank about a small business loan? Here's one New York business loan, issued by a Buffalo bank, that was approved by the SBA.
Applying for an SBA loan with Hsbc Bank Usa worked out well for our friends at one local firm in Ossing, New York. They received an SBA loan for $100,000. Nice!
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
OSSING, NY 10562
SBA Loan Lender
HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203
This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
1/23/2004
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
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 4 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you are wondering how to raise money for a company in Ossing NY, you ought to talk with a local Ossing SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ossing businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Hsbc Bank Usa and they will explain how you can get an SBA loan for your company.
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:
SBIR Funding
Small Bank Loans in Buffalo, New York
Getting an SBA Loan in New York