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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Stationery And Office Supplies Merchant Wholesalers Loan | ||||
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Sovereign Bank
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Business Loan from Sovereign Bank Given to Stationery And Office Supplies Merchant Wholesalers 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 New York entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $10,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $5,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: STATIONERY AND OFFICE SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender SOVEREIGN BANK The lender provided this small business 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. NAICS Code 424120 - Stationery and Office Supplies Merchant Wholesalers Loan Approval Date 2/22/2007 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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. 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. Related Links: Where to Get an SBA Loan in Villanova, Pennsylvania Getting an SBA Loan in Pennsylvania
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