WYOMISSING, Pa., June 14 /PRNewswire/ -- Sovereign Bank announced today
that it will participate in the U.S. Small Business Administration's (SBA)
"Patriot Express" loan initiative for the military community.
Yesterday the SBA announced the launch of a comprehensive initiative
that focuses the agency's full menu of financial, procurement, and
technical assistance programs on the military community. The capstone of
the initiative is a streamlined loan product based on the SBA's highly
successful SBA Express loan program.
The Patriot Express Initiative includes new and enhanced programs and
services for veterans and members of the military community wanting to
establish or expand small businesses. Eligible military community members
include: veterans, service-disabled veterans, active-duty members
participating in the military's Transition Assistance Program, Reservists
and National Guard members, current spouses of any of the above, and the
widowed spouse of a service member or veteran who died during service or of
a service- connected disability.
"We are pleased to participate in the Patriot Express Initiative and
honored to offer loans to veterans and their families who have proudly
served our country," said Joseph P. Campanelli, president and chief
executive officer.
Members of the military community interested in learning more about
loan opportunities with Sovereign Bank and the SBA may contact the
following individuals:
Mid-Atlantic Region -
Dan Sossaman, vice president, SBA lending, (484) 254-0809
New England Region -
Jim Hanlon, vice president, SBA/government lending, (617) 346-7434
New York/New Jersey Region -
Brian Foster, senior vice president, commercial banking regional
executive, (631) 247-4123
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a financial institution with $82 billion in
assets as of March 31, 2007 with principal markets in the Northeast United
States. Sovereign Bank has nearly 785 community banking offices, over 2,300
ATMs and approximately 12,000 team members. Sovereign offers a broad array
of financial services and products including retail banking, business and
corporate banking, cash management, capital markets, wealth management and
insurance. Sovereign is the 18th largest banking institution in the United
States. For more information on Sovereign Bank, visit
http://www.sovereignbank.com or call 1-877-SOV-BANK.
Sovereign Bank is a registered trademark of Sovereign Bank or its
affiliates or subsidiaries in the United States and other countries.
SOURCE Sovereign Bank
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Related links:
http://www.sovereignbank.com/
CONTACT:
Deborah Pulver of Sovereign Bank,
+1-610-378-6784, Cell: +1-610-207-4651, dpulver@sovereignbank.com
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