Specialty Food Stores Bank Loans

Looking for bank loans for specialty food stores? An SBA loan may be just what you've been looking for. This $150,000 specialty food stores loan was issued by a New York bank.

Getting a small business loan in Watertown, New York was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Watertown Savings Bank, operating out of Watertown, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
WATERTOWN, NY 13601

SBA Loan Lender

WATERTOWN SAVINGS BANK
111 CLINTON ST
WATERTOWN, NY 13601

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

4/26/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Watertown NY, you ought to talk with a local Watertown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Watertown businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Watertown Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Watertown Savings 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.

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