Local Business Gets a New York Small Business Loan

Searching for a New York business loan? This New York entrepreneur got a business loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

Getting a small business loan in Schenectady, New York was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
SCHENECTADY, NY 12303

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7389 - Business Services

Loan Approval Date

8/24/2000

Loan Approval Gross Amount

$2,400

Loan Approval from the SBA

Of the total $2,400 loan amount, the SBA guaranteed $1,200.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

SBA 7A Lenders in Providence, Rhode Island

SBA Rhode Island Lenders