Borrowing Money for Fabricated Metal Product Manufacturing

With these loans for fabricated metal product manufacturing, the SBA guarantees the lender that the loan will be repaid. This fabricated metal product manufacturing loan for $250,000 was given to a Massachusetts entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Athol, Massachusetts was able to borrow $250,000 from Flagship Bank & Trust. The SBA made the loan possible by guaranteeing $187,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICE INDUSTRY MACHINERY
ATHOL, MA 01331

SBA Loan Lender

FLAGSHIP BANK & TRUST
120 FRONT ST
WORCESTER, MA 01608

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3589 - Service Industry Machinery

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

9/7/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 33 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $250,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Debt Financing

SBA 7A Banks in Worcester, Massachusetts

Getting an SBA Loan in Massachusetts