New York Business Loan Issued to Personal Services Company
Would a New York business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to New York entrepreneurs.
Getting a small business loan in Saratoga Springs, New York was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank. Here are the details on this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: PERSONAL SERVICES
SARATOGA SPRINGS, NY 12866
SBA Loan Lender
FIRST NIAGARA BANK
6950 S TRANSIT RD
LOCKPORT, NY 14094
This business 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
7299 - Personal Services
NAICS Code
812199 - Personal Care Services
Loan Approval Date
4/26/2006
Loan Approval Gross Amount
$247,500
Loan Approval from the SBA
Of the total $247,500 loan amount, the SBA guaranteed $185,625.
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 14 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.
Great, But How Can I Get an SBA Loan for My Business?
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $247,500 loan. Remember, feel the fear, and do it anyway.
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:
Bank Credit Lines
Good Banks for Small Business in Lockport, New York
SBA New York Lenders