Villanova, Pennsylvania Lender Lends Money to Nondurable Goods Merchant Wholesalers Company

Get to know Villanova, Pennsylvania banks that specialize in small business loans and know how to work with entrepreneurs. Sovereign Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Ridgefield, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Sovereign Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
RIDGEFIELD, NJ 07657

SBA Loan Lender

SOVEREIGN BANK
TWO ALDWYN CENTER, RT 320 & L
VILLANOVA, PA 19085

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

4/3/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Incubators

SBA Participating Banks in Villanova, Pennsylvania

Pennsylvania SBA 7A Banks