Raising Money for Drinking Places

With these business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $322,000 was given to a New York entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rochester, New York was able to borrow $322,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $161,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
ROCHESTER, NY 14607

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722410 - Drinking Places

Loan Approval Date

8/9/2004

Loan Approval Gross Amount

$322,000

Loan Approval from the SBA

Of the total $322,000 loan amount, the SBA guaranteed $161,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 22 new jobs and retain 22 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Business Incubators

Best Banks for Small Business in Syracuse, New York

New York SBA Bank Lenders