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December 19, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Rochester, Business Loans > Genesee Regional Bank Rochester Business Loans > Medical, Dental And Hospital Equipment Loan | ||||
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SBA 7A Banks in New York
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Commercial Loans for Services for the Elderly and Persons with DisabilitiesLooking for commercial loans for services for the elderly and persons with disabilities? Talk to a banker who works with the SBA. This $63,000 services for the elderly and persons with disabilities loan was issued by a New York bank. Getting a small business loan in Webster, New York was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Genesee Regional Bank, operating out of Rochester, New York. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT SBA Loan Lender GENESEE REGIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5047 - Medical, Dental and Hospital Equipment NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 5/3/2005 Loan Approval Gross Amount $63,000 Loan Approval from the SBA Of the total $63,000 loan amount, the SBA guaranteed $53,550. 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 86 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Genesee Regional Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Genesee Regional 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: SBA 7A Banks in Rochester, New York
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