SBA Loan from Sovereign Bank New England A Div Helps Computer Related Services Company

An SBA loan from Sovereign Bank New England A Div typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an East Windsor, Connecticut business owner got a $200,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Windsor, Connecticut was able to borrow $200,000 from Sovereign Bank New England A Div. The SBA made the loan possible by guaranteeing $150,000 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
EAST WINDSOR, CT 06108

SBA Loan Lender

SOVEREIGN BANK NEW ENGLAND A DIV
100 PEARL ST
HARTFORD, CT 06103

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541519 - Computer Related Services

Loan Approval Date

12/21/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $200,000. How would you spend $200,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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