Leominster, Massachusetts Business Gets SBA-Guaranteed Funding from Sovereign Bank

Sovereign Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Leominster, Massachusetts was able to borrow $25,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $12,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITH STORAGE
LEOMINSTER, MA 01453

SBA Loan Lender

SOVEREIGN BANK
75 STATE ST
BOSTON, MA 02109

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

4214 - Local Trucking With Storage

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

2/7/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 8 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 9 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

SBA Banks in Boston, Massachusetts

Massachusetts SBA Bank Lenders