Sovereign Bank SBA Loan to No Industry Type Specified Company
Looking to get a Connecticut SBA loan? Here's one Connecticut business loan that was approved by the SBA.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomfield, Connecticut was able to borrow $50,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $25,000 of this Connecticut small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BLOOMFIELD, CT 06002
SBA Loan Lender
SOVEREIGN BANK
2 ALDWYN LN
VILLANOVA, PA 19085
This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
517212 -
Loan Approval Date
10/24/2005
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 no employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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.
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