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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Olean, Business Loans > Five Star Bank Olean Business Loans > Professional Equipment And Supplies Merchant Wholesalers Loan | ||||
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What Does It Take to Get a Business Loan in Webster, New York?
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Borrowing Money for Professional Equipment and Supplies Merchant WholesalersLooking for loans for professional equipment and supplies merchant wholesalers? Talk to a banker who works with the SBA. This $100,000 professional equipment and supplies merchant wholesalers loan was issued by a New York bank. This small firm knew how to go about getting a business bank loan. Based in Webster, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Five Star Bank, based in Olean, New York. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender FIVE STAR BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423490 - Professional Equipment and Supplies Merchant Wholesalers Loan Approval Date 6/1/2007 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 a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: Role of Business Plan When Raising Money Small Bank Loans in Olean, New York
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