Sovereign Bank Gives Business Loan to Gasoline Stations With Convenience Stores Company

PennsylvaniaBusiness loans are available to Pennsylvania business owners through the SBA. In this case, a Pennsylvania bank provides the loan.

Getting a small business loan in Coatesville, Pennsylvania was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
COATESVILLE, PA 19320

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/10/2003

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 5 employees. The loan application indicated that the loan would help generate 2 new jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Coatesville PA, you ought to talk with a local Coatesville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Coatesville businesses.

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:

Getting a Small Business Loan

Banks in Wyomissing, Pennsylvania

SBA Lenders in Pennsylvania