Hsbc Bank Usa SBA Loan to Full-Service Restaurants Company
Hsbc Bank Usa and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.
This business knew how to go about getting a business bank loan. Based in Syracuse, New York, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Hsbc Bank Usa, based in Buffalo, New York.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
SYRACUSE, NY 13210
SBA Loan Lender
HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203
This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
10/30/2006
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $15,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you are wondering how to raise money for a company in Syracuse NY, you ought to talk with a local Syracuse SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Syracuse businesses.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hsbc Bank Usa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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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