Office Equipment Merchant Wholesalers Small Business Loans

Looking for small business loans for office equipment merchant wholesalers? Try the SBA. This $280,000 office equipment merchant wholesalers loan was issued by a Massachusetts bank.

Getting a small business loan in Warwick, Rhode Island was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Dorchester, Massachusetts. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICE EQUIPMENT MERCHANT WHOLESALERS
WARWICK, RI 02886

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423420 - Office Equipment Merchant Wholesalers

Loan Approval Date

12/28/2005

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

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 33 employees. The loan application indicated that the loan would help generate 30 new jobs and retain 63 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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.

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