SBA Loan from Astoria Fed. S & L Association Helps Eating Places Company

Astoria Fed. S & L Association is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Astoria Fed. S & L Association, out of Lake Success, New York. The loan was granted and they received $80,000 to help grow their Whitestone, New York business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WHITESTONE, NY 11357

SBA Loan Lender

ASTORIA FED. S & L ASSOCIATION
ONE ASTORIA FEDERAL PLZ
LAKE SUCCESS, NY 11042

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/9/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Whitestone NY, you ought to talk with a local Whitestone SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Whitestone businesses.

We can help you find the best banks for small businesses in Whitestone 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:

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Good Banks for Small Business in Lake Success, New York

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