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May 17, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Media, Business Loans > Sovereign Bank Media Business Loans > Eating Places Loan | ||||
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Pennsylvania Bank SBA Loans
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Sovereign Bank SBA Loan to Eating Places CompanyWant a Massachusetts business loan? Here's one Massachusetts business loan that was approved by the SBA. This growing firm needed an SBA business loan in Hyde Park, Massachusetts back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Media, Pennsylvania. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender SOVEREIGN BANK This business 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 Loan Approval Date 8/18/2000 Loan Approval Gross Amount $34,000 Loan Approval from the SBA Of the total $34,000 loan amount, the SBA guaranteed $27,200. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Accountant's Role in Securing Financing Who Lends Money to Small Businesses in Media, Pennsylvania
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