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April 16, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Specialty Food Stores Loan | ||||
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We Needed a Commercial Loan in Marblehead, Massachusetts and We Got One!
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Specialty Food Stores Commercial LoansLooking for commercial loans for specialty food stores? An SBA loan may be just what you've been looking for. This $25,000 specialty food stores loan was issued by a Pennsylvania bank. This small business knew how to go about getting a business bank loan. Based in Marblehead, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Sovereign Bank, based in Wyomissing, Pennsylvania. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender SOVEREIGN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 2/16/2002 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to find other ways to get money to start a business, 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: Small Business Banks in Wyomissing, Pennsylvania
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