Where to Get Capital for Machine Shops

With these small business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $93,000 was given to an Iowa entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Allison, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Lincoln Savings Bank, based in Allison, Iowa.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ALLISON, IA 50602

SBA Loan Lender

LINCOLN SAVINGS BANK
402 N MAIN
ALLISON, IA 50602

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

9/19/2006

Loan Approval Gross Amount

$93,000

Loan Approval from the SBA

Of the total $93,000 loan amount, the SBA guaranteed $79,050.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Allison IA, you ought to talk with a local Allison SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Allison businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Business Incubators

Find an SBA Lender in Allison, Iowa

Iowa SBA Bank Lenders