Small Business Loans for Machine Tool Manufacturing

Looking for small business loans for machine tool manufacturing? Try the SBA. This $888,200 machine tool manufacturing loan was issued by an Ohio bank.

This small firm knew how to go about getting a business bank loan. Based in Canandaigua, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Keybank National Association, based in Brooklyn, Ohio.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
CANANDAIGUA, NY 14424

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
4900 TIEDMAN RD
BROOKLYN, OH 44144

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

12/19/2005

Loan Approval Gross Amount

$888,200

Loan Approval from the SBA

Of the total $888,200 loan amount, the SBA guaranteed $666,150.

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 24 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Keybank National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Keybank National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

504 Loans

Small Business Banks in Brooklyn, Ohio

Browse All Business Loan Sources for Ohio