Poughkeepsie, New York Entrepreneur Gets an SBA Loan

New YorkSmall business loans are available to New York small business owners through the SBA. In this case, a New York bank provides the loan.

Getting a small business loan in Poughkeepsie, New York was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Rhinebeck Savings Bank. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: DRAFTING SERVICES
POUGHKEEPSIE, NY 12601

SBA Loan Lender

RHINEBECK SAVINGS BANK
6414 MONTGOMERY ST
RHINEBECK, NY 12572

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

541340 - Drafting Services

Loan Approval Date

1/17/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Best Rhinebeck, New York Banks for Small Business

Find an SBA Lender in New York