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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Albany, Business Loans > New York Business Devel Corp Albany Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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New York SBA 7A Lenders
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Albany, New York Bank Gives SBA Loan to Fitness And Recreational Sports Centers CompanyWant to talk with an Albany, New York bank about a small business loan? Here's one New York business loan, issued by an Albany bank, that was approved by the SBA. Applying for an SBA loan with New York Business Devel Corp worked out well for our friends at one local business in Schenectady, New York. The business was able to get an SBA loan for $150,000. Awesome! SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender NEW YORK BUSINESS DEVEL CORP This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 9/30/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 6 employees. The loan application indicated that the borrowed money would help generate 4 new jobs. Getting an SBA Loan For Your 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Borrow Money Small Business Banks in Albany, New York
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