Harrisville, Rhode Island Business Gets SBA-Guaranteed Funding from Sovereign Bank

Sovereign Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Harrisville, Rhode Island was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Wyomissing, Pennsylvania. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
HARRISVILLE, RI 02830

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

This lender processed this debt financing 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

561730 - Landscaping Services

Loan Approval Date

3/8/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sovereign Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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