Business Loan from Sovereign Bank Given to Book Stores Company
Sovereign Bank has a track record as a leading provider of SBA loans. Find out how this Pennsylvania entrepreneur received an SBA loan from them.
This small firm knew how to go about getting a business bank loan. Based in Philadelphia, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Sovereign Bank, based in Wyomissing, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: BOOK STORES
PHILADELPHIA, PA 19106
SBA Loan Lender
SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610
The lender provided this 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
451211 - Book Stores
Loan Approval Date
11/16/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 3 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money
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:
Microlending as a Small Business Funding Source
Small Business Banks in Wyomissing, Pennsylvania
SBA Lenders in Pennsylvania