New York Business Devel Corp SBA Loan to Sporting Goods Stores Company

New York Business Devel Corp and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with New York Business Devel Corp, out of Albany, New York. The loan was granted and they received $1,150,000 to help grow their Scarsdale, New York business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
SCARSDALE, NY 10583

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

8/27/2007

Loan Approval Gross Amount

$1,150,000

Loan Approval from the SBA

Of the total $1,150,000 loan amount, the SBA guaranteed $862,500.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. New York Business Devel Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, New York Business Devel Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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