Wyomissing, Pennsylvania Bank Gives SBA Loan to Medical, Dental, And Hospital Equipment And Supplies Merchant Wholesalers Company

Want to talk with a Wyomissing, Pennsylvania bank about an SBA loan? Here's one New Jersey business loan, issued by a Wyomissing bank, that was approved by the SBA.

Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local firm in Cranbury (census Name For Cran, New Jersey. They got an SBA loan for $27,200. Way to go!

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
CRANBURY (CENSUS NAME FOR CRAN, NJ 08512

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

This lender processed this business 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

423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$27,200

Loan Approval from the SBA

Of the total $27,200 loan amount, the SBA guaranteed $13,600.

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 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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