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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 > Wood Kitchen Cabinets Loan | ||||
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Solvay Bank
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Solvay Bank SBA Loan to Wood Kitchen Cabinets CompanySolvay Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Solvay Bank, out of Solvay, New York. The loan was granted and they received $260,000 to help grow their Syracuse, New York business. SBA Loan Borrower COMPANY TYPE: WOOD KITCHEN CABINETS SBA Loan Lender SOLVAY BANK This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2434 - Wood Kitchen Cabinets NAICS Code 337110 - Wood Kitchen Cabinet and Countertop Manufacturing Loan Approval Date 12/28/2004 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. 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 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Solvay Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Solvay 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: Who Lends Money to Small Businesses in Solvay, New York
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