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May 9, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Roofing Contractors Loan | ||||
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Examples of Cromwell (town Of) SBA Loans
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Business Loans for Roofing ContractorsLooking for business loans for roofing contractors? Try the SBA. This $75,000 roofing contractors loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cromwell (town Of), Connecticut was able to borrow $75,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $37,500 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: ROOFING CONTRACTORS SBA Loan Lender SOVEREIGN BANK The lender provided this SBA 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 238160 - Roofing Contractors Loan Approval Date 10/10/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sovereign Bank and they will explain how you can get an SBA loan for your company. 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 7A Banks in Wyomissing, Pennsylvania
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