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May 9, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Fish And Seafood Merchant Wholesalers Loan | ||||
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Getting a Business Loan from Sovereign Bank
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Business Loan from Sovereign Bank Given to Fish And Seafood Merchant Wholesalers CompanySovereign 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 Wareham, Massachusetts was able to borrow $100,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $50,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FISH AND SEAFOOD MERCHANT 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 424460 - Fish and Seafood Merchant Wholesalers Loan Approval Date 2/23/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 48 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 48 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Wyomissing, Pennsylvania Getting an SBA Loan in Pennsylvania
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