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December 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Sports And Recreation Instruction Loan | ||||
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Pennsylvania SBA Banks
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Entrepreneur Works With Villanova, Pennsylvania Bank to Get an SBA LoanThinking about meeting with a Villanova, Pennsylvania bank about a business loan? Here's one Pennsylvania business loan, issued by a Villanova bank, that was approved by the SBA. Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local firm in Montoursville, Pennsylvania. The business was able to get an SBA loan for $27,000. Nice! SBA Loan Borrower COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION SBA Loan Lender SOVEREIGN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 611620 - Sports and Recreation Instruction Loan Approval Date 5/31/2005 Loan Approval Gross Amount $27,000 Loan Approval from the SBA Of the total $27,000 loan amount, the SBA guaranteed $13,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Sovereign Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Banks for Villanova, Pennsylvania Loans
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