Wyomissing, Pennsylvania Lender Lends Money to Plastics Product Manufacturing Company

Want to talk with a Wyomissing, Pennsylvania bank about a business loan? Here's one New Jersey business loan, issued by a Wyomissing 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 Parsippany, New Jersey. They received an SBA loan for $1,920,000. Nice!

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
PARSIPPANY, NJ 07054

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$1,920,000

Loan Approval from the SBA

Of the total $1,920,000 loan amount, the SBA guaranteed $768,000.

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 26 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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:

Obtaining Funding - Friends and Family

SBA Approved Banks in Wyomissing, Pennsylvania

Where to Get an SBA Loan Pennsylvania