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May 8, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Meats And Meat Products Loan | ||||
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Wyomissing, Pennsylvania Bank for SBA Loans
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Wyomissing, Pennsylvania Lender Lends Money to Meats And Meat Products CompanyWant to talk with a Wyomissing, Pennsylvania bank about a small business loan? Here's one Rhode Island business loan, issued by a Wyomissing bank, that was approved by the SBA. Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local firm in Woonsocket, Rhode Island. The business was able to get an SBA loan for $400,000. Sweet! SBA Loan Borrower COMPANY TYPE: MEATS AND MEAT PRODUCTS SBA Loan Lender SOVEREIGN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5147 - Meats and Meat Products NAICS Code 311612 - Meat Processed from Carcasses Loan Approval Date 10/12/2006 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 25 employees. The loan application did not indicate that the company planned to use the money 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. 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: SBA Participating Banks in Wyomissing, Pennsylvania
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