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March 28, 2024  
 
 
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Loan Census SBA Loan Info

Business Loan from Sovereign Bank Given to Landscaping Services Company

An SBA loan from Sovereign Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Forestdale, Massachusetts business owner got a $15,900 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Forestdale, Massachusetts was able to borrow $15,900 from Sovereign Bank. The SBA made the loan possible by guaranteeing $13,515 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
FORESTDALE, MA 02644

SBA Loan Lender

SOVEREIGN BANK
533 WASHINGTON ST
ABINGTON, MA 02351

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

1/26/2001

Loan Approval Gross Amount

$15,900

Loan Approval from the SBA

Of the total $15,900 loan amount, the SBA guaranteed $13,515.

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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $15,900 loan. Remember, things become real when you believe you can achieve them!

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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