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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Computer Related Services Loan | ||||
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Massachusetts Small Business Loans from Sovereign Bank
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Sovereign Bank SBA Loan to Computer Related Services CompanySovereign Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Marlborough (rr Name Marlboro), Massachusetts, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Sovereign Bank, based in Wyomissing, Pennsylvania. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender SOVEREIGN BANK This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 541519 - Computer Related Services Loan Approval Date 4/7/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 35 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 35 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Marlborough (rr Name Marlboro) or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Wyomissing, Pennsylvania
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