SBA Loan from Citibank Helps Institutional Furniture Manufacturing Company

Citibank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.

Getting a small business loan in Westbury, New York was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of New York City, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: INSTITUTIONAL FURNITURE MANUFACTURING
WESTBURY, NY 11590

SBA Loan Lender

CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337127 - Institutional Furniture Manufacturing

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$354,000

Loan Approval from the SBA

Of the total $354,000 loan amount, the SBA guaranteed $265,500.

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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citibank and they will explain how you can get an SBA loan for your company.

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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