SBA Loan from Sovereign Bank Helps General Purpose Machinery Manufacturing Company

Sovereign Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Shrewsbury (town Of), Massachusetts, 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: GENERAL PURPOSE MACHINERY MANUFACTURING
SHREWSBURY (TOWN OF), MA 01545

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$99,000

Loan Approval from the SBA

Of the total $99,000 loan amount, the SBA guaranteed $49,500.

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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Shrewsbury (town Of) MA, you ought to talk with a local Shrewsbury (town Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Shrewsbury (town Of) businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sovereign Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Wyomissing, Pennsylvania

Pennsylvania SBA 7A Lenders