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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Jonico Productions LLC Loan | ||||
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SBA 7A Banks in New Jersey
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Sovereign Bank Provides SBA Loan to Buy Fast Frame FranchiseNeed money to purchase a Fast Frame franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Newark, New Jersey needed money to invest in a Fast Frame franchise back in 2005. Sovereign Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower JONICO PRODUCTIONS LLC SBA Loan Lender SOVEREIGN BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 4/5/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Fast Frame franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Best Banks in Villanova, Pennsylvania
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