Borrowing Money for Plastics Materials and Basic Forms and Shapes Wholesalers

With these loans for plastics materials and basic forms and shapes wholesalers, the SBA guarantees the lender that the loan will be repaid. This plastics materials and basic forms and shapes wholesalers loan for $302,000 was given to a New York entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Red Hook, New York was able to borrow $302,000 from New York Business Devel Corp. The SBA made the loan possible by guaranteeing $226,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES
RED HOOK, NY 12571

SBA Loan Lender

NEW YORK BUSINESS DEVEL CORP
633 3RD AVENUE
NEW YORK, NY 10036

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5162 - Plastics Materials and Basic Forms and Shapes

NAICS Code

422610 - Plastics Materials and Basic Forms and Shapes Wholesalers

Loan Approval Date

6/26/2000

Loan Approval Gross Amount

$302,000

Loan Approval from the SBA

Of the total $302,000 loan amount, the SBA guaranteed $226,500.

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 11 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. New York Business Devel Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, New York Business Devel Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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