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May 11, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Business Support Services Loan | ||||
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Brooklyn SBA Loans
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Sovereign Bank Gives Small Business Loan to Business Support Services CompanyNew YorkSmall business loans are available to New York small business owners through the SBA. In this case, a Pennsylvania bank provides the loan. This business, based in Brooklyn, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Sovereign Bank. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: BUSINESS SUPPORT SERVICES SBA Loan Lender SOVEREIGN BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 561499 - Business Support Services Loan Approval Date 7/24/2007 Loan Approval Gross Amount $18,300 Loan Approval from the SBA Of the total $18,300 loan amount, the SBA guaranteed $9,150. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find business people willing to loan money, 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: Best Villanova, Pennsylvania Banks for Small Business
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