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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Solvay, Business Loans > Solvay Bank Solvay Business Loans > Support Activities For Forestry Loan | ||||
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New York Small Business SBA Loans
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Syracuse, New York Entrepreneur Gets a Business LoanBusiness loans in New York are are few and far betweeen these days. We take a look at one New York business loan, provided by a New York bank, that was approved by the SBA. This small business, based in Syracuse, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Solvay Bank. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT ACTIVITIES FOR FORESTRY SBA Loan Lender SOLVAY 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 115310 - Support Activities for Forestry Loan Approval Date 11/9/2001 Loan Approval Gross Amount $12,000 Loan Approval from the SBA Of the total $12,000 loan amount, the SBA guaranteed $6,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $12,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Microlending as a Small Business Funding Source Small Business Banks in Solvay, New York
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