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April 19, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Sovereign Bank Boston Business Loans > Eating Places Loan | ||||
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Boston, Massachusetts Bank Gives SBA Loan to Eating Places CompanyGet small business loans from a Boston, Massachusetts bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Sovereign Bank is a Boston, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender SOVEREIGN BANK This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/15/2000 Loan Approval Gross Amount $212,000 Loan Approval from the SBA Of the total $212,000 loan amount, the SBA guaranteed $159,000. 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 10 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sovereign Bank and they will explain how you can get an SBA loan for your company. 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: Dealing With Venture Capitalists Best Banks for Small Business in Boston, Massachusetts
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