How to Get a Loan for Military Armored Vehicle, Tank, and Tank Component Manufacturing

With these SBA loans for military armored vehicle, tank, and tank component manufacturing, the SBA guarantees the lender that the loan will be repaid. This military armored vehicle, tank, and tank component manufacturing loan for $225,000 was given to a Massachusetts entrepreneur in 2007.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Rhode Island, out of Providence, Rhode Island. The loan was granted and they received $225,000 to help grow their Acushnet, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: MILITARY ARMORED VEHICLE, TANK, AND TANK COMPONENT MANUFACTURING
ACUSHNET, MA 02743

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

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

336992 - Military Armored Vehicle, Tank, and Tank Component Manufacturing

Loan Approval Date

1/9/2007

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Acushnet MA, you ought to talk with a local Acushnet SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Acushnet businesses.

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 Bank Rhode Island 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.

Related Links:

Raising Venture Capital

SBA Banks in Providence, Rhode Island

SBA Participating Banks in Rhode Island