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December 22, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Scientific And Technical Consulting Services Loan | ||||
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Small Business Banks for Rocky Hill (town Of) Businesses
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Where to Get Capital for Scientific and Technical Consulting ServicesLooking for small business loans for scientific and technical consulting services? Try the SBA. This $50,000 scientific and technical consulting services loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rocky Hill (town Of), Connecticut was able to borrow $50,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $25,000 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES SBA Loan Lender SOVEREIGN BANK 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 541690 - Scientific and Technical Consulting Services Loan Approval Date 11/4/2004 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Good Banks for Small Business in Wyomissing, Pennsylvania
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