How to Get a Loan for Manufacturing

With these commercial loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $75,000 was given to a Massachusetts entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Boston, Massachusetts was able to borrow $75,000 from Washington Tr Co - Westerly. The SBA made the loan possible by guaranteeing $37,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
BOSTON, MA 02119

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339999 - Manufacturing

Loan Approval Date

8/30/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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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