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November 24, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Buffalo, Business Loans > Hsbc Bank Usa Buffalo Business Loans > Furniture Merchant Wholesalers Loan | ||||
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New York SBA 7A Lenders
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Entrepreneur Works With Buffalo, New York Bank to Get an SBA LoanGet SBA loans from a Buffalo, New York bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Hsbc Bank Usa is a Buffalo, New York small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New York company. SBA Loan Borrower COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS SBA Loan Lender HSBC BANK USA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423210 - Furniture Merchant Wholesalers Loan Approval Date 10/5/2006 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $24,750. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Buffalo, New York
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