Financing for Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

With these loans for overhead traveling crane, hoist, and monorail system manufacturing, the SBA guarantees the lender that the loan will be repaid. This overhead traveling crane, hoist, and monorail system manufacturing loan for $150,000 was given to an Ohio entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Campbell, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was The Huntington National Bank, based in Warren, Ohio.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY AND EQUIPMENT
CAMPBELL, OH 44405

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
108 MAIN AVE SW
WARREN, OH 44482

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3531 - Construction Machinery and Equipment

NAICS Code

333923 - Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

Loan Approval Date

3/16/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Huntington National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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