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April 19, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Dorchester, Business Loans > Sovereign Bank Dorchester Business Loans > Meat Processed From Carcasses Loan | ||||
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Banks for Woonsocket Businesses
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Sovereign Bank Gives SBA Loan to Meat Processed From Carcasses CompanyLooking to get a Rhode Island SBA loan? This Rhode Island entrepreneur got an SBA loan, provided by a Massachusetts bank that works with the SBA to help small business owners. This company, based in Woonsocket, Rhode Island, 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 Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: MEAT PROCESSED FROM CARCASSES SBA Loan Lender SOVEREIGN BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 311612 - Meat Processed from Carcasses Loan Approval Date 10/31/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 25 employees. This SBA loan request indicated that the loan would help retain 25 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sovereign Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Dorchester, Massachusetts Banks for Small Business
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