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May 2, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Sovereign Bank Boston Business Loans > Packaged Frozen Food Merchant Wholesalers Loan | ||||
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I Need a Business Loan in Boston, Massachusetts
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Packaged Frozen Food Merchant Wholesalers Commercial LoansLooking for commercial loans for packaged frozen food merchant wholesalers? Try the SBA. This $800,000 packaged frozen food merchant wholesalers loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Boston, Massachusetts was able to borrow $800,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $720,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: PACKAGED FROZEN FOOD MERCHANT WHOLESALERS 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 7A business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424420 - Packaged Frozen Food Merchant Wholesalers Loan Approval Date 9/23/2005 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $720,000. 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 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 $800,000 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. Related Links: SBA Banks in Boston, Massachusetts
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