Financing for Elementary and Secondary Schools

With these loans for elementary and secondary schools, the SBA guarantees the lender that the loan will be repaid. This elementary and secondary schools loan for $700,000 was given to a New York entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Westbury, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Community National Bank, based in Great Neck, New York.

SBA Loan Borrower

COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS
WESTBURY, NY 11590

SBA Loan Lender

COMMUNITY NATIONAL BANK
200 MIDDLE NECK RD
GREAT NECK, NY 11021

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611110 - Elementary and Secondary Schools

Loan Approval Date

12/11/2006

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

Getting an SBA Loan For Your Business

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Business Line of Credit

Good Banks for Small Business in Great Neck, New York

New York SBA Bank Lenders