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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 > Snack Food Manufacturing Loan | ||||
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Abington, Massachusetts SBA Lenders
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Entrepreneur Works With Abington, Massachusetts Bank to Get an SBA LoanThinking about meeting with an Abington, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by an Abington bank, that was approved by the SBA. Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local company in Hanson (rr Name South Hanson), Massachusetts. They got an SBA loan for $550,000. Way to go! SBA Loan Borrower COMPANY TYPE: SNACK FOOD MANUFACTURING SBA Loan Lender SOVEREIGN BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311919 - Snack Food Manufacturing Loan Approval Date 4/30/2001 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. 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 3 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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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