Commercial Loans for Fruit and Vegetable Markets

Looking for commercial loans for fruit and vegetable markets? An SBA loan may be just what you've been looking for. This $50,000 fruit and vegetable markets loan was issued by a Pennsylvania bank.

Getting a small business loan in Teaneck, New Jersey was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Wyomissing, Pennsylvania. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FRUIT AND VEGETABLE MARKETS
TEANECK, NJ 07666

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

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

445230 - Fruit and Vegetable Markets

Loan Approval Date

7/10/2002

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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