Small Business Loans for Single Family Housing Construction

Looking for small business loans for single family housing construction? The SBA may be the answer. This $144,000 single family housing construction loan was issued by a New York bank.

This small firm knew how to go about getting a business bank loan. Based in Starkey, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Five Star Bank, based in Geneva, New York.

SBA Loan Borrower

COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION
STARKEY, NY 14837

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.

SIC Code

1521 - Single-Family Housing Construction

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

6/28/2000

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $108,000.

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 SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Starkey NY, you ought to talk with a local Starkey SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Starkey businesses.

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:

The Art of Bootstrapping

Good Banks for Small Business in Geneva, New York

New York SBA 7A Lenders