Woodside, New York Entrepreneur Gets a Business Loan

Want a New York SBA loan? This New York entrepreneur got an SBA loan, provided by a New York bank that works with the SBA to help small business owners.

This small business, based in Woodside, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Marathon National Bank - New York. We've got the inside scoop on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FLUID MILK MANUFACTURING
WOODSIDE, NY 11377

SBA Loan Lender

MARATHON NATIONAL BANK - NEW YORK
28-22 STEINWAY ST
NEW YORK CITY, NY 11103

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311511 - Fluid Milk Manufacturing

Loan Approval Date

5/20/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Marathon National Bank - New York so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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