Wyomissing, Pennsylvania Bank Gives SBA Loan to Exam Preparation And Tutoring Company

Thinking about meeting with a Wyomissing, Pennsylvania bank about a business loan? Here's one Massachusetts business loan, issued by a Wyomissing bank, that was approved by the SBA.

Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local business in Westborough (rr Name Westboro), Massachusetts. The business was able to get an SBA loan for $20,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
WESTBOROUGH (RR NAME WESTBORO), MA 01581

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

611691 - Exam Preparation and Tutoring

Loan Approval Date

8/16/2001

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

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

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:

The Art of Bootstrapping

SBA 7A Lenders in Wyomissing, Pennsylvania

Find an SBA Lender in Pennsylvania