Borrowing Money for Motion Picture and Video Distribution

With these bank loans for motion picture and video distribution, the SBA guarantees the lender that the loan will be repaid. This motion picture and video distribution loan for $600,000 was given to a Rhode Island entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Providence, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Sovereign Bank, based in Dorchester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO DISTRIBUTION
PROVIDENCE, RI 02903

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512120 - Motion Picture and Video Distribution

Loan Approval Date

10/5/2005

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 16 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sovereign Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sovereign Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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