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May 4, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Abington, Business Loans > Sovereign Bank Abington Business Loans > Gasoline Stations Loan | ||||
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Abington, Massachusetts Bank Loan
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Sovereign Bank Gives Business Loan to Gasoline Stations CompanyLooking to get a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by a Massachusetts bank that works with the SBA to help small business owners. By giving the right information to Sovereign Bank, this Abington, Massachusetts business was able to get an SBA loan. To get this loan, the applying company 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: GASOLINE STATIONS SBA Loan Lender SOVEREIGN BANK 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 447190 - Gasoline Stations Loan Approval Date 4/8/2002 Loan Approval Gross Amount $525,000 Loan Approval from the SBA Of the total $525,000 loan amount, the SBA guaranteed $393,750. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 9 existing jobs. Next Steps for Getting an SBA Loan If you have been wondering how do i get money to start a business in Abington MA, you ought to talk with a local Abington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Abington businesses. This SBA loan was for $525,000. How would you spend $525,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Abington, Massachusetts
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