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April 27, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Meat And Meat Product Wholesalers Loan | ||||
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SBA 7A Banks That Lend to Somerdale Business Owners
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New Jersey SBA Loan Issued to Meat And Meat Product Wholesalers CompanySBA loans in New Jersey are tough to come by these days. We take a look at one New Jersey SBA loan, provided by a Pennsylvania bank, that was approved by the SBA. This company, based in Somerdale, New Jersey, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Sovereign Bank. We've got the inside scoop on this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: MEAT AND MEAT PRODUCT WHOLESALERS SBA Loan Lender SOVEREIGN BANK The lender provided this 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 422470 - Meat and Meat Product Wholesalers Loan Approval Date 3/21/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help generate 3 new jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Role of Business Plan When Raising Money SBA 7A Banks for Wyomissing, Pennsylvania Loans
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