Business Loan from Sovereign Bank Given to Women's, Misses', And Juniors' Outerwear, N.E.C Company

Sovereign Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Newport, Rhode Island was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Providence, Rhode Island. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S, MISSES', AND JUNIORS' OUTERWEAR, N.E.C
NEWPORT, RI 02840

SBA Loan Lender

SOVEREIGN BANK
ONE FINANCIAL PLZ
PROVIDENCE, RI 02903

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2339 - Women's, Misses', and Juniors' Outerwear, N.E.C

NAICS Code

315239 - Women's and Girls' Cut and Sew Outerwear Manufacturing

Loan Approval Date

7/20/2001

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Small Business Loan

SBA Approved Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island