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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Norwich, Business Loans > Nbt Bank, National Association Norwich Business Loans > Eating Places Loan | ||||
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Norwich Lenders
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Norwich, New York Bank Gives SBA Loan to Eating Places CompanyWant to talk with a Norwich, New York bank about an SBA loan? Here's one New York business loan, issued by a Norwich bank, that was approved by the SBA. Applying for an SBA loan with Nbt Bank, National Association worked out well for our friends at one local business in Richfield Spring, New York. They received an SBA loan for $47,000. Awesome! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NBT BANK, NATIONAL ASSOCIATION This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/14/2003 Loan Approval Gross Amount $47,000 Loan Approval from the SBA Of the total $47,000 loan amount, the SBA guaranteed $39,950. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Realistic Debt Financing Options SBA Banks in Norwich, New York
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