Growing Company Gets a New York Business Loan
Looking to get a New York bank loan? This New York entrepreneur got a bank loan, provided by a North Carolina bank that works with the SBA to help small business owners.
By giving the right information to Wachovia Bank, this Yonkers, New York business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: FACILITIES SUPPORT SERVICES
Yonkers, NY 10710
SBA Loan Lender
WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
561210 - Facilities Support Services
Loan Approval Date
11/16/2004
Loan Approval Gross Amount
$168,700
Loan Approval from the SBA
Of the total $168,700 loan amount, the SBA guaranteed $84,350.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 8 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank 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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