Bank Loans for General Purpose Machinery Manufacturing

Looking for bank loans for general purpose machinery manufacturing? The SBA may be the answer. This $158,000 general purpose machinery manufacturing loan was issued by a North Dakota bank.

Getting a small business loan in Bismarck, North Dakota was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from American Bank Center First, operating out of Bismarck, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
BISMARCK, ND 58503

SBA Loan Lender

AMERICAN BANK CENTER FIRST
320 N 4TH ST
BISMARCK, ND 58501

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

3/3/2004

Loan Approval Gross Amount

$158,000

Loan Approval from the SBA

Of the total $158,000 loan amount, the SBA guaranteed $118,500.

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 19 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $158,000 loan. Remember, fight for what you want, and it will be yours!

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:

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Good Banks for Small Business in Bismarck, North Dakota

North Dakota SBA 7A Lenders