Entrepreneur Works With Watertown, New York Bank to Get an SBA Loan

Get to know Watertown, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Watertown Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Watertown, New York starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Watertown 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: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
WATERTOWN, NY 13601

SBA Loan Lender

WATERTOWN SAVINGS BANK
111 CLINTON ST
WATERTOWN, NY 13601

This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

NAICS Code

621493 - Freestanding Ambulatory Surgical and Emergency Centers

Loan Approval Date

1/25/2006

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Watertown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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