Sovereign Bank Gives Bank Loan to Full-Service Restaurants Company

Want a Massachusetts bank loan? This Massachusetts entrepreneur got a bank loan, provided by a Pennsylvania bank that works with the SBA to help small business owners.

Getting a small business loan in Needham Heights, Massachusetts was a top priority for this loan applicant back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEEDHAM HEIGHTS, MA 02494

SBA Loan Lender

SOVEREIGN BANK
2 ALDWYN LN
VILLANOVA, PA 19085

This lender processed this bank loan 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

722110 - Full-Service Restaurants

Loan Approval Date

1/11/2008

Loan Approval Gross Amount

$72,500

Loan Approval from the SBA

Of the total $72,500 loan amount, the SBA guaranteed $36,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $72,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Realistic Debt Financing Options

Banks in Villanova, Pennsylvania

Getting a Business Loan in Pennsylvania