Warminster, Pennsylvania Business Gets SBA-Guaranteed Funding from Sovereign Bank

An SBA loan from Sovereign Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Warminster, Pennsylvania business owner got a $151,200 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Sovereign Bank, out of Media, Pennsylvania. The loan was granted and they received $151,200 to help grow their Warminster, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WARMINSTER, PA 18974

SBA Loan Lender

SOVEREIGN BANK
125 S PROVIDENCE RD
MEDIA, PA 19063

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/17/2000

Loan Approval Gross Amount

$151,200

Loan Approval from the SBA

Of the total $151,200 loan amount, the SBA guaranteed $113,400.

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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sovereign Bank and they will explain how you can get an SBA loan for your company.

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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