How to Get a Loan for General Purpose Machinery Manufacturing

Looking for commercial loans for general purpose machinery manufacturing? The SBA may be the answer. This $91,800 general purpose machinery manufacturing loan was issued by an Oregon bank.

This small business knew how to go about getting a business bank loan. Based in Arcata, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Umpqua Bank, based in Roseburg, Oregon.

SBA Loan Borrower

COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING
Arcata, CA 95521

SBA Loan Lender

UMPQUA BANK
445 SE MAIN ST
ROSEBURG, OR 97470

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

5/22/2007

Loan Approval Gross Amount

$91,800

Loan Approval from the SBA

Of the total $91,800 loan amount, the SBA guaranteed $78,030.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the funding would help generate 3 new jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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