Plattsburgh, New York Entrepreneur Gets a Small Business Loan

Small business loans in New York are tough to come by these days. We take a look at one New York small business loan, provided by a New York bank, that was approved by the SBA.

You can learn something about getting a small business loan in Plattsburgh, New York by studying this loan to a local company, made back in 2001. Banks like Glens Falls National Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES
PLATTSBURGH, NY 12901

SBA Loan Lender

GLENS FALLS NATIONAL BANK & TRUST
250 GLEN ST
GLENS FALLS, NY 12801

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0742 - Veterinary Services for Animal Specialties

NAICS Code

541940 - Veterinary Services

Loan Approval Date

6/20/2001

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

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 18 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Loan

Banks in Glens Falls, New York

New York SBA 7A Lenders