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May 2, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Sovereign Bank New York City Business Loans > Drugs And Druggists' Sundries Merchant Wholesalers Loan | ||||
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Sovereign Bank SBA Loans Carlstadt
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Carlstadt, New Jersey Business Gets SBA-Guaranteed Funding from Sovereign BankAn SBA loan from Sovereign Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Carlstadt, New Jersey business owner got a $250,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carlstadt, New Jersey was able to borrow $250,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $125,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES MERCHANT WHOLESALERS SBA Loan Lender SOVEREIGN BANK The lender provided this 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 424210 - Drugs and Druggists' Sundries Merchant Wholesalers Loan Approval Date 9/19/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 22 employees. This SBA loan request indicated that the loan would help retain 22 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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 $250,000 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: Best Banks for Small Business in New York City, New York
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