Local Business Gets a New York Small Business Loan

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

You can learn something about getting a small business loan in Poughkeepsie, New York by studying this loan to a local business, made back in 2004. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING FIXTURE FITTING AND TRIM MANUFACTURING
POUGHKEEPSIE, NY 12572

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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.

NAICS Code

332913 - Plumbing Fixture Fitting and Trim Manufacturing

Loan Approval Date

2/19/2004

Loan Approval Gross Amount

$726,916

Loan Approval from the SBA

Of the total $726,916 loan amount, the SBA guaranteed $545,187.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 115 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Obtaining Funding - How to Borrow Money

Best Banks in Livingston, New Jersey

SBA New Jersey Banks