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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > General Automotive Repair Loan | ||||
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SBA Lender Ronkonkoma
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Ronkonkoma, New York Business Gets SBA-Guaranteed Funding from CitibankCitibank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Ronkonkoma, New York, they applied for and received an SBA-guaranteed loan in 2008. The lending bank was Citibank, based in Las Vegas, Nevada. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CITIBANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811111 - General Automotive Repair Loan Approval Date 1/28/2008 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 6 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Next Steps for Getting an SBA Loan 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. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Citibank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Las Vegas, Nevada
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