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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Syracuse, Business Loans > Hsbc Bank Usa Syracuse Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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Hsbc Bank Usa Small Business Loans Valley Stream
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Valley Stream, New York Business Gets SBA-Guaranteed Funding from Hsbc Bank UsaAn SBA loan from Hsbc Bank Usa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Valley Stream, New York business owner got a $100,000 loan. This growing company knew how to go about getting a business bank loan. Based in Valley Stream, New York, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Hsbc Bank Usa, based in Syracuse, New York. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender HSBC BANK USA This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 9/21/2004 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies Who Lends Money to Small Businesses in Syracuse, New York
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