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November 21, 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 > Convenience Stores Loan | ||||
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How Hard Is It to Get a Small Business Loan in West Babylon, New York?
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Getting an SBA Loan for Convenience StoresWith these commercial loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $50,000 was given to a New York entrepreneur in 2004. This business knew how to go about getting a business bank loan. Based in West Babylon, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Hsbc Bank Usa, based in Syracuse, New York. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender HSBC BANK USA 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 445120 - Convenience Stores Loan Approval Date 12/13/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in West Babylon 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. Related Links: SBA 7A Banks in Syracuse, New York
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