SBA Loans for Plastics and Rubber Industry Machinery Manufacturing

Looking for SBA loans for plastics and rubber industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $300,000 plastics and rubber industry machinery manufacturing loan was issued by a New Mexico bank.

This business knew how to go about getting a business bank loan. Based in Albuquerque, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Grants State Bank, based in Grants, New Mexico.

SBA Loan Borrower

COMPANY TYPE: SPECIAL INDUSTRY MACHINERY
ALBUQUERQUE, NM 87109

SBA Loan Lender

GRANTS STATE BANK
824 W SANTA FE AVE
GRANTS, NM 87020

This commercial loan 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

3559 - Special Industry Machinery

NAICS Code

333220 - Plastics and Rubber Industry Machinery Manufacturing

Loan Approval Date

6/8/2001

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $270,000.

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 40 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Grants State 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:

Borrowing Money from Friends and Family

SBA Participating Banks in Grants, New Mexico

Getting an SBA Loan in New Mexico