Where to Get Capital for Support Services

Looking for SBA loans for support services? Try the SBA. This $80,000 support services loan was issued by a New York bank.

This small business knew how to go about getting a business bank loan. Based in Stafford, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Five Star Bank, based in Geneva, New York.

SBA Loan Borrower

COMPANY TYPE: SUPPORT SERVICES
STAFFORD, NY 14143

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561990 - Support Services

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Five Star Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Debt Financing

SBA Banks in Geneva, New York

Getting a Business Loan in New York