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May 9, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Specialty Food Stores Loan | ||||
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Banks Doing SBA Loans in Pennsylvania
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Wyomissing, Pennsylvania Bank Lends Money to Specialty Food Stores Company in Closter, New JerseyFind Wyomissing, Pennsylvania banks that specialize in small business loans and know how to work with entrepreneurs. Sovereign Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Closter, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Sovereign Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender SOVEREIGN BANK 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 445299 - Specialty Food Stores Loan Approval Date 5/14/2004 Loan Approval Gross Amount $180,000 Loan Approval from the SBA Of the total $180,000 loan amount, the SBA guaranteed $90,000. 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 12 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 12 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Best Wyomissing, Pennsylvania Banks for Small Business
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