Citibank SBA Loan to Homefurnishings Stores Company

Searching for a New York SBA loan? Here's one New York business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rockville Centre, New York was able to borrow $15,000 from Citibank. The SBA made the loan possible by guaranteeing $7,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
ROCKVILLE CENTRE, NY 11570

SBA Loan Lender

CITIBANK
120 BROADWAY
NEW YORK CITY, NY 10271

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.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

8/7/2000

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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