Loans for Industrial Machinery and Equipment Wholesalers

Looking for loans for industrial machinery and equipment wholesalers? The SBA may be the answer. This $730,000 industrial machinery and equipment wholesalers loan was issued by a Nebraska bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alliance, Nebraska was able to borrow $730,000 from First National Bank. The SBA made the loan possible by guaranteeing $657,000 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
ALLIANCE, NE 69301

SBA Loan Lender

FIRST NATIONAL BANK
201 N DEWEY ST
NORTH PLATTE, NE 69101

This 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

5084 - Industrial Machinery and Equipment

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

3/30/2001

Loan Approval Gross Amount

$730,000

Loan Approval from the SBA

Of the total $730,000 loan amount, the SBA guaranteed $657,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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