How to Get a Loan for Food Product Machinery Manufacturing

Looking for SBA loans for food product machinery manufacturing? An SBA loan may be just what you've been looking for. This $352,700 food product machinery manufacturing loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bedford, Ohio was able to borrow $352,700 from National City Bank. The SBA made the loan possible by guaranteeing $176,350 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD PRODUCT MACHINERY MANUFACTURING
BEDFORD, OH 44146

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333294 - Food Product Machinery Manufacturing

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$352,700

Loan Approval from the SBA

Of the total $352,700 loan amount, the SBA guaranteed $176,350.

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 11 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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