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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Machine Shops Loan | ||||
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Sovereign Bank Loans
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Business Loans for Machine ShopsLooking for business loans for machine shops? The SBA may be the answer. This $20,000 machine shops loan was issued by a Pennsylvania bank. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Sovereign Bank, out of Wyomissing, Pennsylvania. The loan was granted and they received $20,000 to help grow their Newark, New Jersey business. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender SOVEREIGN BANK This lender processed this commercial 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 332710 - Machine Shops Loan Approval Date 8/17/2004 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sovereign Bank and they will explain how you can get an SBA loan for your company. 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: Good Banks for Small Business in Wyomissing, Pennsylvania
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