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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Hsbc Bank Usa Buffalo Business Loans > Groceries And Related Products Loan | ||||
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New York Bank SBA Loans
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Hsbc Bank Usa SBA Loan to Groceries And Related Products CompanyWant a New York business 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 Rome, New York was able to borrow $150,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $112,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GROCERIES AND RELATED PRODUCTS SBA Loan Lender HSBC BANK USA This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5149 - Groceries and Related Products Loan Approval Date 8/16/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks in Buffalo, New York
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