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December 20, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Garden City, Business Loans > Jpmorgan Chase Bank Garden City Business Loans > Nondurable Goods Wholesalers Loan | ||||
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Banks in Garden City, New York That Make SBA Loans
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Garden City, New York Bank Lends Money to Nondurable Goods Wholesalers Company in Westbury, New YorkWant to talk with a Garden City, New York bank about a small business loan? Here's one New York business loan, issued by a Garden City bank, that was approved by the SBA. Applying for an SBA loan with Jpmorgan Chase Bank worked out well for our friends at one local company in Westbury, New York. The business was able to get an SBA loan for $830,000. Way to go! SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS WHOLESALERS SBA Loan Lender JPMORGAN CHASE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422990 - Nondurable Goods Wholesalers Loan Approval Date 9/12/2002 Loan Approval Gross Amount $830,000 Loan Approval from the SBA Of the total $830,000 loan amount, the SBA guaranteed $747,000. 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 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Remember, 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. While you may be able to find other ways to get money to start a business, 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: SBA Participating Banks in Garden City, New York
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