Raising Money for Commercial Bakeries

Looking for bank loans for commercial bakeries? Try the SBA. This $30,000 commercial bakeries loan was issued by a New York bank.

This small firm knew how to go about getting a business bank loan. Based in Saint Albans, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Capital One, based in Melville, New York.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
SAINT ALBANS, NY 11412

SBA Loan Lender

CAPITAL ONE
275 BROADHOLLOW RD
MELVILLE, NY 11747

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

311812 - Commercial Bakeries

Loan Approval Date

5/11/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Saint Albans NY, you ought to talk with a local Saint Albans SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saint Albans businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital One and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Borrowing Money from Friends and Family

SBA Participating Banks in Melville, New York

Getting an SBA Loan in New York