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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Oneida, Business Loans > The Oneida Savings Bank Oneida Business Loans > Machine Shops Loan | ||||
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New York SBA Banks
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Oneida, New York Lender Lends Money to Machine Shops CompanyGet to know Oneida, New York banks that specialize in small business loans and know how to work with entrepreneurs. The Oneida Savings Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Syracuse, New York starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from The Oneida Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender THE ONEIDA SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 332710 - Machine Shops Loan Approval Date 7/25/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 3 employees. The SBA loan application for the borrower indicated that the funding would help create 3 new jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Oneida Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Oneida Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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:
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