New York Small Business Loan Issued to General Automotive Repair Shops Company

Small business loans in New York are hard to find these days. We take a look at one New York small business loan, provided by a New York bank, that was approved by the SBA.

You can learn something about getting a small business loan in Saranac Lake, New York by studying this loan to a local company, made back in 2003. Banks like New York Business Devel Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
SARANAC LAKE, NY 12983

SBA Loan Lender

NEW YORK BUSINESS DEVEL CORP
50 BEAVER STREET, P.O. BOX 73
ALBANY, NY 12201

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/4/2003

Loan Approval Gross Amount

$82,000

Loan Approval from the SBA

Of the total $82,000 loan amount, the SBA guaranteed $61,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Cash Advances

Best Banks for Small Business in Albany, New York

Find an SBA Lender in New York