Entrepreneur Works With Geneva, New York Bank to Get an SBA Loan

A Geneva, New York small business loan can be yours. Learn how one firm got a $882,000 business loan from this New York bank.

This loan to a local firm is a good example of an SBA loan. Five Star Bank made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING
STANLEY, NY 14561

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

12/20/2001

Loan Approval Gross Amount

$882,000

Loan Approval from the SBA

Of the total $882,000 loan amount, the SBA guaranteed $661,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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