Get an SBA Loan for Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers

With these small business loans for jewelry, watch, precious stone, and precious metal wholesalers, the SBA guarantees the lender that the loan will be repaid. This jewelry, watch, precious stone, and precious metal wholesalers loan for $60,000 was given to a Rhode Island entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Sovereign Bank, out of Wyomissing, Pennsylvania. The loan was granted and they received $60,000 to help grow their Providence, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL WHOLESALERS
PROVIDENCE, RI 02903

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

421940 - Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers

Loan Approval Date

4/4/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Sovereign Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

Small Business Banks in Wyomissing, Pennsylvania

SBA Participating Banks in Pennsylvania