Saratoga National Bank & Trust SBA Loan to Eating Places Company

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

This up and coming company knew how to go about getting a business bank loan. Based in Saratoga Springs, New York, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Saratoga National Bank & Trust, based in Saratoga Springs, New York.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SARATOGA SPRINGS, NY 12866

SBA Loan Lender

SARATOGA NATIONAL BANK & TRUST
171 S BROADWAY
SARATOGA SPRINGS, NY 12866

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/3/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

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 10 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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