New York Bank Loan Issued to Eating Places Company

Would a New York small business loan help your small business to grow and prosper? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.

You can learn something about getting a small business loan in Potsdam, New York by studying this loan to a local company, made back in 2000. Banks like Nbt Bank, National Association may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
POTSDAM, NY 13676

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
83 MARGARET ST
PLATTSBURGH, NY 12901

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/10/2000

Loan Approval Gross Amount

$131,000

Loan Approval from the SBA

Of the total $131,000 loan amount, the SBA guaranteed $98,250.

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 14 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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