Utica, New York Entrepreneur Gets a Small Business Loan

Small business loans in New York are tough to come by these days. We take a look at one New York small business loan, provided by a New York bank, that was approved by the SBA.

You can learn something about getting a small business loan in Utica, New York by studying this loan to a local company, made back in 2005. Banks like The Rome Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOKS, PERIODICALS, AND NEWSPAPERS
UTICA, NY 13501

SBA Loan Lender

THE ROME SAVINGS BANK
100 W DOMINICK ST
ROME, NY 13440

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5192 - Books, Periodicals, and Newspapers

NAICS Code

422920 - Book, Periodical, and Newspaper Wholesalers

Loan Approval Date

9/27/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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Find an SBA Lender in Rome, New York

Getting an SBA Loan in New York