SBA Loan from Sovereign Bank Helps Fruit And Vegetable Markets Company

Sovereign Bank has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Marion, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Sovereign Bank, based in Harrisburg, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FRUIT AND VEGETABLE MARKETS
MARION, PA 17235

SBA Loan Lender

SOVEREIGN BANK
235 N SECOND ST
HARRISBURG, PA 17101

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5431 - Fruit and Vegetable Markets

NAICS Code

445230 - Fruit and Vegetable Markets

Loan Approval Date

9/19/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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