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May 15, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > East Brunswick, Business Loans > Sovereign Bank East Brunswick Business Loans > Information Retrieval Services Loan | ||||
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East Brunswick, New Jersey Bank for SBA Loans
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East Brunswick, New Jersey Bank Gives SBA Loan to Information Retrieval Services CompanyGet SBA loans from an East Brunswick, New Jersey 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 East Brunswick, New Jersey small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Pennsylvania company. SBA Loan Borrower COMPANY TYPE: INFORMATION RETRIEVAL SERVICES SBA Loan Lender SOVEREIGN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7375 - Information Retrieval Services NAICS Code 514191 - On-Line Information Services Loan Approval Date 6/29/2000 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sovereign Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in East Brunswick, New Jersey
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